As an investor or end user planning to look for property in DDA’s proposed L Zone, there are some key things that one needs to keep in mind.
What is L zone?
As a step towards facilitating the growing need of housing in Delhi, the Delhi Development Authority (DDA) is working on the Master Plan of L Zone. Located in South-West Delhi and spread across 22,840 hectare of land, the L Zone is expected to give an impetus to the slow and stagnant real estate market of the national capital. It is close to IGI Airport and is strategically positioned between Dwarka and Gurgaon.
Under the development plan, the authority has divided Delhi into 15 zones wherein ‘L’ Zone is the largest and boasts Najafgarh as the only census town in the zone. “At present the zones are open for buying land, wherein the housing societies and private developers are coming forth with their investment plans. Where majority have already bought land, many are still looking to obtaining the necessary approvals from the authority,” says Partho Kunar, director, Suhaskrit, a Delhi-based consultant firm.
Once the approvals are received, the land owners of L Zone will submit the land to DDA out of which the authority will take 40 per cent of the total land area for development of roads, drainage, sewerage and other civic amenities. Once developed, the developers/housing societies will be allowed to start their construction plans.
Guidelines for buyers
- Under the plan, there are two categories of buyers – land buyers and home buyers. The land owners must read the land pooling policy in detail and buy land that falls under the residential zone
- The home buyers, including individual investors who are taking interest in the real estate market here should make sure that the developer has the necessary approvals. “When it comes to home buyers, it’s an early investment one is making and should know that land pooling policy has been approved by the Gazette Notification no. 2076 dated 6th Sep 2013, but process of surrender and approval of individual project is yet to happen,” adds Kunar.
Invest with caution
As the L Zone is in the early stages of planning, you might be able to get the benefit of a first-comer, but there are a few things that one needs to take into account.
“As per the Master Plan 2021, any individual investor can buy land but one must ensure to do a recce of the area prior to investment. The buyer must read and understand the land pooling policy as well,” adds Kunar.
A home buyer must know that the land pooling policy has just been notified and is not yet operational. Therefore, it may take some time for the developers or group housing societies to receive land from DDA for further development.
An individual must authenticate the market reputation of the developer and should also verify the credential of the organisation owners along with their past project deliveries.
It seems to be the right time to invest in L Zone under the DDA Master plan 2021 but the buyer should keep in mind that it may take some time for the actual implementation of the plans on ground by the authority. So, if you are investing right now then there should be a willingness to wait for some years for the investment to grow.