Propertymart News  

February 1, 2007

New Master Plan for Delhi 2021 notified

Filed under: News — admin @ 6:18 am

New Delhi, India, February 2007 - INRnews reports that the Urban Development Minister Mr. Jaipal Reddy has signed the much awaited new Master Plan for Delhi-2021. Significant policy changes include providing for greater height and floor ratio norms as well as wide relief from sealing and demolition through mixed land use norms that allows for commercial activities on 2,283 roads.
Mr. Jaipal Reddy also announced that the ongoing sealing drive in Delhi would not resume from Wednesday.

Under the MPD-2021, areas of the capital have been designated as “commercial”, “residential” and “mixed”. This move would benefit a significant number of smaller establishments as well as private practitioners such as doctors and lawyers who have set up businesses in residential areas.

A number of measures are included to allow for redevelopment of existing colonies with new structures with more height and floor ratios to be allowed. 62% additional construction will be allowed in group housing societies. Also private participation has been invited in slum development.

Delhi’s Master Plan-2021 also lists an eight-point action plan for cleaning the Yamuna river.

With Delhi said to have a shortage of 24 lakh dwelling units, the notification of MPD-2021 is likely to create a construction boom of sorts. Owners and developers are likely to rush to take advantage of the liberalised height and floor ratio norms to create more built-up area. The liberalised norms are also likely to push up land prices but could have a dampening effect on apartment prices as more supply comes into market.


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    Comment by hockeydude10 — April 3, 2008 @ 5:58 am

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    Comment by Registered nurse — December 12, 2010 @ 12:43 am

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