ACQUISITION  OF LAND IN NEW DDA ZONAL PLAN P-II IN NORTH DELHI

Keeping in view the interest of the people to have the affordable housing in Dehli, the society has decided to  purchase 2 Acres of land in this zone where other societies/builders have already acquired land adjacent to the proposed land where we are intending to acquire.  The availability of land as per master plan for Delhi-2021 for which zonal plan P-II has been notified by DDA & schematic map of the notified plan are enclosed as “Annexure A” indicating the location of plot . The land has been  proposed to be procured in DDA new zonal plane P-II in sector III situated in northern part of Delhi. This area is being developed in lines of Dwarka sub-city with the yellow shaded areas earmarked for High rise buildings (to be acquired on free hold basis) and areas marked in blue are earmarked for Government Institutions. We would like to draw your attention to the areas marked in blue earmarked for Government allocated land, adjacent of Sector III which has been specifically earmarked for construction of the new  Amusement Park. The remaining areas which are marked in red are areas earmarked for Commercial activities like Malls, Theatres, Shopping complexes etc. The areas earmarked in green are to be developed as forest/gardens etc. However, the Society would acquire land situated in Sector III, since this area is next to the proposed Metro Rail Line, already proposed in the MDP-2021. Moreover, the Sector is situated on the banks of the river Yamuna, which will remain an area free from encroachment in future as also the area is likely to be developed as full blown river front by the Government  Added to this is the fact that just opposite this Sector on other side of river Yamuna has been earmarked for development of the ‘Tronica City’ in Uttar Pradesh. You would  be aware that the procurement prices as fixed by the Government of NCT of Delhi for land to be acquired by them Government now stand at a whopping Rs.75.00 lakhs per acre which is going to be increased to 1.8 Cr per acre. Since these are Government notified rates for acquisition, the actual land rates offered after development are much higher and therefore, the market equation has shifted towards even higher prices However, due to increase in the CRR for Banks, resulting in higher rates at which loans are available, has made the market stable and therefore, this has been the opportune moment for the Society and has struck a  bargain for acquiring land for its members. Accordingly, we are contemplating to acquire 2 acres of prime land at Sector -3 under MDP 2021 DDA Zonal Plan P-II and the members are  invited to inspect the site. Hence, you are hereby requested to tender the initial/option cost for land money. After receipt of the land money coupled with your option form – the remainder amount of land money (at projected rate of FAR development given here in below @380/- per square feet) the following category wise tentative land cost shall be as :

 
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