New Delhi: The Delhi Development Authority (DDA) on Friday approved the much-awaited land pooling policy which will pave way for easier acquisition of land for housing projects.
"With the acquisition of land becoming difficult for DDA in the past two decades, the Authority at a meeting held under the chairmanship of Lt Governor Najeeb Jung approved the policy on public-private partnership in land assembly and development in Delhi," DDA spokesperson said.
Since the first Master Plan of Delhi in 1961, DDA's policy had been to acquire large tracts of land from private owners at a low price, develop it and then sell the residential or commercial properties at a premium. But the policy came under attack from land-owners who demanded more compensation after the rate of properties escalated.
The new policy, which has been passed by the Authority, allows land-owners to pool their land for development by DDA.
The new policy, which has been passed by the Authority, allows land-owners to pool their land for development by DDA. But now instead of compensation, they would get back 40-60 per cent of land after development of infrastructure by DDA, which they can keep for themselves or give to private developers.
DDA approved the recommendation of the Board of Inquiry, which held hearings on June 22 and 23 suggesting that minimum land pooling size should in two categories, first with 20 hectares and above and, second between two and 20 hectares.