Your Wait Could End Right Here, More Than 20,000 Houses Are Expected To Come Up In Delhi This yr
By ugesh sarkar, Section Gurgaon Real Estate Property
Posted on Fri Feb 26, 2010 at 02:32:27 AM EST
 The year 2010 can be a game changer, for the housing shortage in New Delhi is all set to be bridged, to a certain extent, with new supply coming in. There are approximately 15,000 flats being readied in Vasant Kunj, Jasola, Narela and Dwarka to meet the housing demand that will arise during the Commonwealth Games to be held in October. Of these 15,000 apartments, 8,000 are going to be ready by June.
The DDA is expected to start auctioning a bulk of these apartments from the 2Q onwards. The previous auc- tion of 5,238 apartments was held in September 2008, which attracted approxi- mately six lakh applications, although due to some irregu- larities the physical posses- sion is yet to take place.
In addition to this, there are 3,500 apartments that are being built for the Commonwealth Games, tak- ing the number of apart- ments up to 18,500. These units are expected to be ready by the end of the year.
If the complete 18,500 stock is offered during the year this would probably be the largest number of apartments/hous- ing scheme that the DDA would have brought out dur- ing any given year. Over the next four years DDA plans to construct and deliver 42,000 apartments, thus easing the housing pressure that the city is currently experiencing.
Source: Hindustan Times Your Wait Could End Right Here, More than 20,000 houses are expected to come up in Delhi this year
Click On "Full Story" For More...
 |
If the DDA is successful in auctioning these apartments and offering physical posses- sion in a short span of time, the housing problems of the city would be eased to a large extent. This may even lead to capital and especially rental values stabilising if not correcting in certain locations where the supply is concen- trated.
There is also the recent 12,000 acres in Chhattarpur that has been allowed for acquisition by the Supreme Court. The acquisition is not going to be easy as this area has farmhouses, and various illegal/unauthorised con- structions. The DDA can expect dispute, opposition and more litigation as it tries to acquire the land in this area. If DDA does manage to acquire the land parcel in a short span of time, this area could see unparalleled growth especially if PPP model is followed as this would allow for faster imple- mentation/execution of work.
This model was seen at work in case of the Commonwealth Games village being devel- oped by a private developer Emaar MGF thus allowing for successful PPP models to exist and to be structured in the future. On the private front, there are several Cooperative Group Housing Scheme (CGHS) in Dwarka that are under litigation and the regu- larisation of these will fur- ther add to the supply. Most of the development was restricted to builder floors by contractors and smaller local developers and thus most of the current stock is in the form of smaller develop- ments such as floors, villas, and bungalows. In the recent past various private develop- ers such as DLF, Raheja, Indiabulls, Parsvanath, etc.
have also started large scale developments across Delhi. DLF received an overwhelm- ing response for its Capital Court I and II which shows that the underlying demand in Delhi is strong for a rightly priced housing product, although certain locations, especially in central and south Delhi, allow for only luxury projects to be constructed due to high land rates. Again, concessions in the form of higher FSI or sops for developers by the government bodies will allow for private developments to be more economical. The author is head, residential, Cushman & Wakefield
|
 |
|
Login
Membership has its privileges. Choose a username and provide a working email - that's all it takes to join. Click below to make a new account.
Make a new account
Who's Online? (56)
. Unregistered Visitors (56)
Note: You may cloak yourself from appearing here in your Display Preferences.
Front Page
Friday July 23rd
. On Camera: Crumbling Delhi Games Stadiums (0 comments)
. In A Big Boost To Non-Metros, Govt Allows Smaller SEZs (0 comments)
Thursday July 22nd
. Still Wait For Games Village (0 comments)
. Status Of Plots In Sector 57 Still Unclear, Not Given Physical Possession (0 comments)
. Govt Failing To Provide Cheaper Homes And Private Options Out Of Reach,Urban Poor Have Little Choice (0 comments)
. No More Garbage In Gurgaon City By August End Claims Municipal Corporation Of Gurgaon (0 comments)
. Crossed Rs 30,000 Crore Budget Now, Rs 40 Crore Blimp For Commonwealth Games (0 comments)
Wednesday July 21st
. No Games Stadium To Be Ready In Time For Handover, Completion Claims Ring False (0 comments)
. Gurgaon Will Get A New Flyover At IFFCO Chowk..... (0 comments)
. Gurgaon Has Given A New Meaning To 24x7: Power For Only Seven Hours In A Day (2 comments)
. Skies Open, Roads Shut Down , Traffic Snarls Return To Capital, Gurgaon Gets Its Share Too (0 comments)
. Help Just A Phone Call Away Through Emergency Numbers In Gurgaon (0 comments)
. Banished From Delhi For Commonwealth Games (0 comments)
Tuesday July 20th
. Development Plan Of Gurgaon-Manesar Formulated (0 comments)
. RIL's Haryana SEZ Watered Down (0 comments)
. Livid Gill Tells CWG Boss Fennell To Get Champs Not An Army Of Officials (0 comments)
. Metro Parking: Users Paying, Others Saving (0 comments)
. No Need A Guide For Games, A Free Pocket Guide To Self-Plan For Tourists (0 comments)
. A Survey of 3,000 Residents Highlights The Basic Civic Problems That Gurgaon Needs To Solve (0 comments)
. Insurance Regulatory And Development Authority Launches A New Grievance Redressal Channel (0 comments)
Monday July 19th
. Check Decline Of Water Table, Gurgaon Residents Urge MCG (0 comments)
. `Lending Rates To Go Up After Sept' :Chanda Kochhar (0 comments)
. No Protection To Tenant If He Ignores Order To Pay Dues Under Delhi Rent Control Act (0 comments)
. Price Watch: A Weekly Comparison Of Prices Of Essential Food Commodities On Sale At Kendriya Bhandar (0 comments)
. Yamuna Expressway Authority: Dealers Make Hay After Allotments Are Cancelled (0 comments)
. Delhi-Gurgaon Expressway: Relief For Local Traffic Soon (0 comments)
. National Registry Of Licences In 6 Months, Transport Ministry To Have All Data Online (0 comments)
. Highway To Hapur To Be Eight-Laned, Unlikely NH-24 Stretch Will Not Be A Toll Road (0 comments)
Sunday July 18th
. HSIIDC To Invite Applications For Industrial Plot Allotment In IMT Rohtak (0 comments)
. Car Breakdown Or Accident On Toll Highway? Seek Free Help (0 comments)
. A Slice of Haryana: Dharohar Exhibits Hitherto Unknown And Lesser-Known Facets Of Haryanavi Culture (0 comments)
. Investing In Realty Via Structured Products (0 comments)
Saturday July 17th
. Commercial Realty Launches At A Low (1 comments)
. Now,Get Traffic Update SMS To Beat Jams,Delhi Traffic Police Start Unique Free Service For Commuters (0 comments)
. Due To Lack Of Vision, Poor Planning, The City Of Dreams Turned Into An Urban Nightmare (0 comments)
. Gurgaon Draws Master Plan For Rainwater Harvesting (0 comments)
Friday July 16th
. Commonwealth Games: Delhi's Mission Impossible? (0 comments)
Thursday July 15th
. Trouble Ahead :Rising Property Prices, Falling Sales Volume Worry Analysts (1 comments)
. New Telephone Numbers Of Electricity Department... (0 comments)
. Realtors Sense Stability In Market, Revisit IPO Plans (0 comments)
. Wait For G Noida Airport Gets Longer , GoM Meet To Look Into Proposal Deferred (0 comments)
. Unaffordable Real-Estate Prices Force Retailers To Shelve Expansion Plans (0 comments)
Wednesday July 14th
. Targeting Games, Ministry To Market Golden Triangle (0 comments)
. Nightmare On Ballabhgarh Road, Contract Given To Private Firm, 32.6Km Stretch In Poor Shape (0 comments)
. Pune IT Cos Ink Peace Pact To End Talent War, Firms Agreed To Work Collectively To Reduce Attrition (0 comments)
. Petrol Prices To Be Revised Every Month (0 comments)
. Solar Heating System Must In Faridabad on The Houses Constructed On 500 sq yard And More (0 comments)
Tuesday July 13th
. SEZs, Developers May Come Under MAT Net (0 comments)
. Hop On & Off Tourist Buses From September (0 comments)
. Haryana Unveils High-Speed Rail Link, Train Will Connect Panipat And Delhi (0 comments)
Older Stories...
|
|
