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HindustanTimes Mon,29 Dec 2014

Delhi to unlock industrial land for building homes

Sidhartha Roy, Hindustan Times  New Delhi, September 07, 2013
First Published: 00:47 IST(7/9/2013) | Last Updated: 01:54 IST(7/9/2013)

The Delhi Development Authority (DDA) is planning to unlock prime land in the Capital for housing by allowing limited residential development in industrial areas.

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The agency, currently reviewing the Master Plan of Delhi 2021, has proposed an amendment to allow residential units in areas meant for industrial purposes as part of redevelopment of these industrial areas. This would mean that those who own industrial plots in these areas would be allowed to develop service or studio apartments.

“The amendment is in the final stages of being passed and once formally notified, the onus would be on plot owners to develop residential units if they wish,” said a senior DDA official. “About 20% land would be allowed for residential development.”

Group housing projects would be allowed but once again, the decision would lie with the plot owners, said AK Jain, former commissioner (planning), DDA. “The scope would be more in upcoming industrial areas such as Bawana,” he added.

SK Maheswari, general secretary of the Patparganj Industrial Area Association — which gave the proposal for mixed land use of industrial areas to the DDA — said allowing housing in these areas would help people employed by industries there. “Service sector industries such as IT would benefit if employees could live and work at the same place instead of traveling great distances,” he said. http://www.hindustantimes.com/Images/Popup/2013/9/07_09_13-metro1.gif

Another benefit could be a dip in property prices.

Industrial areas such as the ones in Okhla, Patparganj, Mayapuri and Naraina are surrounded by residential areas preferred by house hunters. The demand has pushed property prices up. A 2BHK flat, for instance, sells for anything between Rs. 60 lakh and Rs. 1 crore in these areas. If industrial plots were to be unlocked, prices might see a slight dip.

“It’s a good move as property prices are high in Delhi owing to a supply-demand mismatch. This would create more supply and provide more people with an opportunity to own a house, which is at present beyond the means of most people,” said Anshuman Magazine, chairman and MD, CB Richard Ellis, South Asia.

“Infrastructure, however, also needs to be augmented along with development of housing. The infrastructure should be able to accommodate the extra burden on water, power, parking and other resources,” he added.


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