In the past couple of years, India and Delhi, in particular, has been hard it in the property market due to which it is at it’s all time low. The investors and buyers are since then looking for an opportunity to revive the real estate business. Once such opportunity has presented itself near Dwarka zone of Delhi. Land Pooling Policy (LPP) and its benefits are core to this new development in the market.
According to the Master Plan Delhi (MPD) 2021, the city is coming up with 15 new zones of development on its periphery. Among these zones, 6 are on the policy of land pooling and thus provides the impetus in the revival of property in Delhi. The six zones would be developed around the boundaries of Delhi, thus incorporating the parts of outer Delhi into itself. The L zone, near Dwarka will be the next big thing in land holding business.
The arrival of LPP as the major land policy has able to help urban development in these zones. The residential sectors, as well as the commercial sectors, will see a rise in the L zone. Various new development plans are coming up in this zone. The budget of the middle-class is the genesis behind this idea. In short, due to the huge benefits offered by LPP, builders and government can now work hand in hand to bring luxury living places for the middle class at the most reasonable prices and also at the heart of India, New Delhi.
Real estate is not just a capital market, but it has to so much to do with the sentiments and understanding of life in general. Also, the role of government in bringing the property forward impacts the market at the highest level. The expert builders, some of whom have been the evergreen in real estate, have shown tremendous faith in this new progress. One needs to see the vastness of L zone and its opportunities in real estate to understand that this might be one of the golden and lifetime opportunities to invest in land and housing dealings.
One more thing that would benefit real estate in the Dwarka zone is that the nature of planning is such that it would bring people closer to one of the most sought after places to live in, like Dwarka, Gurgaon and South Delhi at a very affordable price with superior infrastructure. The closeness to the international airport and being a part of the capital would give a major push in real estate.
With the rise of real estate in L zone in Delhi, what happens now is this will work as inspiration for the government as well as for the developer entities to bring in similar projects across all over India and thus, bring up the real estate to its full swing.