Delhi-Kundli road records over 100% hike in land values
Delhi-NCR: The land along the road from Delhi to Kundli Border on National Highway 1 has increased by more than double over a year.
The present rate per acre is Rs 1.70-1.90 crore while it was available at Rs 70-80 lakh in the same period last year. The road towards Karnal, which is a distant town from the NCR, has witnessed over 100 percent rise in land rates.
The tremendous hike in land rates in this road is due to the policy sanction that the Delhi government is planning to announce shortly.
According to the Delhi Master Plan 2021, farmhouses should be allowed only in green belt zones. Delhi Government plans to pass the policy of building farmhouses on one acre land in the Green Belt Zone. This policy allowed farmhouses on minimum 2.5 acre land.
Green Belt zone is the area around Delhi border within 3 km of the periphery. This belt includes many areas from various sides of the capital city- N zone (Northwest) and L zone (Southwest). Farmhouse development will be allowed on lands located after Narela, Bahadurgarh, Najafgarh, etc. The belt on GT Karnal Road would include areas such as Singhola, Singhu, Palla and Jinjoli among others.
Delhi Development Authority (DDA) has already approved the policy. And presently it is waiting for sanction from Lt Governor of National Capital Territory of Delhi- Tejinder Khanna.
Earlier the region was witnessing demand from investors largely. Now even buyers are showing interest and buying properties in Delhi-Kundli road. End-users looking for peaceful living places and looking for second home form the major part of buyers of such properties.
The policy is expected to be announced shortly, probably before July 2013. The proposed policy has paved way to high increase in property values. The demand for farmhouses is now seeing a significant increase from buyers in peripheral areas.
Related Real Estate News:
DDA to review Master Plan 2021 before July 2013
Construction of Bahadurgarh-Delhi metro to start soon
DDA flats of various housing schemes lying vacant
Image courtesy of Kittisak at FreeDigitalPhotos.net
Buying properties, Delhi Development Authority, Delhi Government, Delhi master plan 2021, Delhi NCR, Delhi-Kundli Border, demand for farmhouses, Farmhouse development, farmhouses, Green Belt Zone, L zone, Land rates, N zone, National Capital Territory of Delhi, National Highway 1
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