Smart City Project to Come Up Before Cabinet on April 22, 2015

The ambitious “Smart City” project of the NDA government is likely to be brought for Cabinet’s approval on April 22, sources said. The project, which is close to Prime Minister Narendra Modi’s heart, got a go-ahead from the Expenditure Finance Committee (EFC) last week.
To begin with, the “Smart City” project would include 20 cities and the number would subsequently go up to 100.
Every city has been earmarked Rs 100 crore each for the project. The project has been at a consultative stage since the NDA government announced it in May 2014.
“A Cabinet note has been prepared for the Smart City project and is likely to come up for approval on April 22,” said a senior UD ministry official. Prime Minister Modi is presently on a three-nation tour and the next Cabinet meeting is expected to be held on April 22 when he returns.

 

Apart from the Smart City project, the new urban renewal mission is also likely to be taken up by the Cabinet. While Rs 2,000 crore has been allocated for the Smart City project, the urban mission has got Rs 4,000 crore for the current fiscal, as per the EFC.
Aiming at upgrading the basic infrastructure in cities, the new urban renewal mission, which replaces UPA’s flagship JNNURM, is likely to be named “Atal Mission for Rejuvenation and Urban Transformation” (AMRUT) after former Prime Minister Atal Bihari Vajpayee. The official, however, said no such name has been finalised yet.
The proposed urban mission will take up projects related to sanitation, drinking water, urban transportation and sewerage among others.
As far as the Smart City project is concerned, it will be mostly taken up with active participation of private players and partnership with state governments and urban local bodies.
Continuous supply of water and electricity, advanced health facilities, hassle-free transportation system, wi-fi enabled zones, effective garbage collection and treatment of garbage and sewage are some of the essential components of the Smart City project.
The urban local bodies will have to undertake certain reforms in order to be eligible to be part of the Smart City project, the official added.

Source: Indian Express

Date : 15th April 2015

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DDA L Zone - FAQs

DDA L zone, Delhi, has become a hot area in the last couple of months of 2015. Say it end user or the real estate investor, both are looking forward for making a long term investment in Delhi L Zone. However, a lot of questions are still there which are rushing through minds of people, for e.g. What is location of DDA L zone,  what is land pooling policy and whether it is worth investment?
Let's see what experts say about it.

What is L zone and where is it?

DDA has divided Delhi into fifteen zones for development. L Zone is one of these zones with smart city. DDA L zone is located in the South Western part of Delhi, in very close proximity to Dwarka Subcity and Gurgaon. It also enjoys a very close proximity to Dwarka Sec 21 Metro Starion, IGI International Airport and upcoming Dwarka Expressway. Its proximity to Gurgaon, Dwarka expressway, Dwarka sub city, and IGI Airport gives it a good position for upcoming residential development. It has an extent greater than 22,840 hectares of land that meets residential needs of people who wish to invest comparatively low amounts but for great benefits far into future.

What is land pooling policy? Under the Land Pooling Policy, the land owners can surrender their land into a central pool and be a stakeholder in the development that occurs on the land. Once the land is pooled, the land owner would get 40-60% of the total given land as developable land (Read Details Here). DDA would retain the rest of the area for development of roads, sewage facilities, civic amenities and other public utilities. Once these facilities are developed, developers and housing societies will be allowed to start their construction activities. Land Pooling policy has been approved and the process of giving up of land and approval of projects is being waited for.
 

Is DDA L Zone worth investing?

L zone is a good place for new home buyers as well as investors to make residential real estate development. It is being considered as hottest real estate destination in Delhi/NCR as this is still in early stage of planning. However, the whole deal depends on a lot of speculation which is governed by political factors. Actual implementation of the regulations will take some time and hence, patience is the key factor here. The investment can be liquefied on a short term basis.

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CRE Solutions

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DDA L Zone - All About It

DDA L Zone has emerged as new sought after real estate destination in Delhi NCR in last few days. Both real estate investors as well as end users are eying on DDA’s L Zone, Delhi to invest or have their dream home.
In all this hustle-bustle, a lot of questions must be there like :

• What is DDA L Zone and Where is it?
• Land Pooling Policy !! What is it ?
• Should one put his/her money in it ?

Lets know all about it:

What is L zone and were is it?
"L Zone, Delhi" is located in South-West Delhi and spread across 22,840 hectare of land. It is located in very close proximity to Dwarka Sub City and Gurgaon. It also enjoys well connectivity and closeness to IGI Airport. DDA is developing it in order to meet the growing need of residential apartments in Delhi.
DDA, under its Master Plan 2021 has divided Delhi into 15 Zones for development. L Zone is one of them as the largest zone as well the zone with proposed 1st Smart City of Delhi NCR. Its strategic connectivity to IGI, Gurgaon, Dwarka expressway and Dwarka Sub City gives it an edge too.

Land Pooling Policy, what is it ?
Under land pooling policy, land owners can surrender their land holding into central pool and be a stakeholder to the development proposed on their land. Once the land is pooled, the land owner would get back 40-60% of total land surrendered as developable land. DDA would have remaining area for development of roads, drainage, sewerage and other civic amenities. Once developed, the developers/housing societies will be allowed to start their construction plans.
Land pooling policy has been approved by the Gazette Notification no. 2076 dated 6th Sep 2013, and process of surrender and approval of individual project is awaited.
Read More Here

Should one put his/her money in DDA L Zone ?
L Zone, Delhi is a very good opportunity for both home buyers as well as investors as its in early stage of planning. Home buyers can avail early bird opportunity and can own their residential apartment in this premium location that too at affordable price. The investors can also look ahead for greater returns from their investments.
It seems to be the right time to invest in L Zone under the DDA Master plan 2021, however one should keep in mind that actual implementation of the plans on ground may take some time. After all, Rome wasn’t built in a day. So, With a willingness to wait for some years for the investment to grow, real estate investors can get remarkable return on their investments.

In brief : DDA L Zone is a happening to be a highly sought after residential zone in the coming five years. It is emerging as most sought after real estate investment destination in Delhi and if any time is the ideal time to invest in property in DDA L zone, the time is now.

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