New Farmhouse Policy Going to Change the Face of Residential Property in Delhi

Delhi Property at Makaan.com

I have been commuting via Delhi metro from past three years and every single day, I have noticed one thing in particular. There are no or only 1 or 2 people getting down or boarding the train at Ghitorni and Sultanpur(Jhangirpuri-Huda City Center Metro Line). And I used to wonder why the train even bothers to stop at these two. It seems that authorities heard the mumblings of my heart. The new Farm House Policy laid down by DDA is going to completely change the scenario. As per this policy,  been  a total of 27 low density villages shall be covered for the construction of one-acre farmhouses. These shall be termed as 'Country Houses', and shall influence the rate of other property for sale in Delhi.

Since the day DDA announced that such a scheme shall be rolled out, there has been an unprecedented number of inquiries from investors and High Net Worth Individuals(HNIs) for acquiring land in these villages. This interest has directly affected the prices of other South Delhi property including flats and apartments: their rates have depreciated by 10-15% in the first quarter of 2013. DDA has also decided to increase the Floor Area Ratio(FAR) in the villages that are scattered along metro lines. The earlier FAR of 15% is proposed to increase to 20%.

In addition to Ghitorni and Sultanpur, a few other villages that have been included in the Farm House Policy are Asola, Devli, Hiranki, Bakoli, Rangpuri, Khanpur, and many more. As against the proposed  one-acre area, the earlier mandatory area for farmhouses was 2.5 acres. To make the best of the situation, several prominent builders have already roped in for acquiring land in these villages. As far as the present farmhouses that have covered high floor areas need to pay penalty in return for the regularization.

In the years to come, these remote villages shall be able to see high-end residential developments. This shall take time, but once that happens, these areas shall populate well. The number of commuters to and from the areas along metro-line shall increase considerably. We shall have to wait which turn the residential property in Delhi takes...

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