Land pooling policy and role of housing societies
Delhi land pooling policy was a much awaited scheme and came into focus by the approval done by Ministry of Urban Development on 5th September 2013. Since the formulation of first Master plan in 1961 Delhi Development Authority acquired large areas of land from land owners and then sells or develops the land, stepwise. But in late 1980s the demand rush from the consumers actually disrupted supply of the government where majority was fulfilled by private sector by their incremental ability.
Henceforth, implementation of land pooling policy came to systematize land acquisition thereby replacing the government’s previous procedure of purchasing land implementing a fixed compensation resulting ownership change. Previous system failed due to forceful acquisition, low compensation and unnecessary delay in the process leaving the entire process dumped in files. Nowadays, the urbanization of Delhi has initiated as a move of the government through this new policy wherein it is expected to have huge land for development introducing private and public sector to speed up.
Zonal plans have been sanctioned under this new policy as urban extensions of Delhi in which developing land bundle is initiated available on Delhi’s outskirts in a sustainable and unbiased way. This is the concept for planned city development wherein inclusion of private body like Platinum Multi State CHS Ltd, came up with marvelous investment provisions for employees of development companies taking the honor to deliver low priced comfortable homes in true sense. The Society is handling development assignments in the L Zone of Delhi.
The motto behind land pooling policy is to combine small land pieces into large packet to develop bigger infrastructure such as water supply, sewage systems, community halls, housing projects etc and return the developed land to the owners. Housing societies including Platinum Multi State CHS and New Delhi Residency are offering 1 to 4 BHK apartments at a very low rate starting from 18 lacs ensuring comfortable house ownership.
A large number of people will be benefitted by this policy as low-priced comfortable housing projects with super class amenities under Platinum Multi State CHS will be available. According to experts, rationalization of price in property will occur facilitating all but if the land supplies turns inadequate then price hike of property may happen. Hence, government should take special measures to waive off the negations of this policy in effect.