Delhi Development Authority Revamps Real Estate Sector with Major Policy Changes
The Delhi Development Authority (DDA) has announced a series of major policy changes aimed at revitalizing Delhi's real estate sector. These reforms are designed to counter the trend of investors favoring neighboring National Capital Region (NCR) cities like Noida and Gurugram, and to stimulate urban growth within the city.
In a significant move, the DDA has slashed amalgamation charges for commercial properties from 10% to 1% of the circle rate. This reduction is expected to make commercial development in Delhi more attractive and competitive compared to other NCR cities, which have been benefiting from lower levies.
To further boost investor interest, the DDA has also reduced the multiplication factor used in commercial property auctions from 2 to 1.5 times the circle rate. These changes are based on recommendations from a High-Level Joint Government-Industry Task Force formed by Lieutenant Governor VK Saxena, which highlighted the need to address Delhi's uncompetitive market rates as a deterrent for developers.
In addition to commercial real estate reforms, the DDA has approved several land use changes to enhance the city's infrastructure. Notably, land in Narela has been earmarked for the establishment of an education hub and a multi-sports integrated stadium. This move is expected to transform Narela into a more desirable location for both education and sports enthusiasts.
The DDA has also introduced a discount scheme for bulk flat purchases by government entities in Narela, mirroring the Apna Ghar Awaas Yojana 2025 public offer. This initiative aims to provide affordable housing options for government employees and other eligible individuals.
To bolster the residential real estate market, the DDA has launched the Premium Housing Scheme 2025 through e-auctions. This scheme offers a variety of flats and garages in prime locations such as Vasant Kunj, Rohini, Dwarka, and Pitampura. The scheme caters to different income groups, including High-Income Group (HIG), Middle-Income Group (MIG), and Low-Income Group (LIG) categories.
Furthermore, residents of Signature View Apartments will receive facilitation rent during the reconstruction phase of their buildings, ensuring their welfare is protected during this period.
These comprehensive measures reflect the DDA’s broader strategy of aligning real estate policies with industry inputs, streamlining processes, and making Delhi a more competitive destination for both commercial and residential developments. The DDA’s efforts are expected to attract more investors and developers to the city, thereby driving economic growth and urban development.
