Government announces new PPP policy for private investments in affordable housing

MUMBAI: Taking its efforts to achieve ‘Housing for All by 2022’ further, the central government has announced a new public-private partnership (PPP) policy for affordable housing that allows extending central assistance of up to Rs.2.50 lakh per each house to be built by private builders even on private lands.

Under this policy announced by Minister of Housing & Urban Affairs Hardeep Singh Puri, eight PPP (Public Private Partnership) models have been provided for private sector to invest in affordable housing segment.

It has also opened potential for private investments in affordable housing projects on government lands in urban areas.

While addressing real estate body NAREDCO’s summit, Puri explained that this policy seeks to assign risks among the government, developers and financial institutions, to those who can manage them the best besides leveraging under-utilized and un-utilized private and public lands towards meeting the target of Housing for All.

“We are not being prescriptive or restrictive with these models. Land being a state subject, the the governments can come up with more models that would help in ..

The two PPP models for private investments in affordable housing on private lands include extending central assistance of about Rs 2.50 lakh per each house as interest subsidy on bank loans as upfront payment under the Credit Linked Subsidy Component (CLSS) component of Pradhan Mantri Awas yojana (Urban). Under the second option, central assistance of Rs 1.50 lakh per each house to be built on private lands would be provided, in case the beneficiaries do not intend to take bank loans.

Puri stated that eight PPP options, including six for promoting affordable housing with private investments using government lands have been evolved after extensive consultations with States, promoter bodies and other stakeholders.

The six models using government lands are:

1.DBT Model: Under this option, private builders can design, build and transfer houses built on government lands to public authorities. Government land is to be allocated based on the least cost of c ..



Get Guided and Stay Informed about The Demonetization Impact on Delhi’s Property Market

For many city residents, owning a home has always been a distant dream. The highly unaffordable real estate prices force the people to stay majorly in rented houses. However, several recent events have created countless possibilities of owing a property of their choice and preference.

The government’s recent surprising move to nail down on black money hoarders across the country by banning Rs 500 and Rs 1,000 notes is anticipated to have a great effect on certain pockets of both the residential and commercial markets across the country, and especially in the national capital region.

Everybody is talking about these effects but most are clueless about the nature of these effects. As per the analysis of the reputed property consultant of the national capital region – DDA Smart Cities, this so-called can be classified into two main parts-

Impact on Primary or Fresh Market-

The term Primary is used to define purely ethical, apparent, transparent and appropriate dealings which take place only through pure white methodologies. The people who used to deal in these ways will not have any major effect because all their dealings were always open and transparent. However, the impact as estimated and anticipated by the DDA Smart Cities will have only 5 to 10% impact which may last only for 3 to 6 months. One of the ray of hope and possibility associated with fresh market is that people who used to finalized their dealings in the secondary market having some discrepancies, would be compelled to move to Fresh Market due to some limitations of the secondary market.

 Effects on Secondary Market-

Secondary market is the term that is used for denoting and redefining the property dealings that are made between two or more persons in which one is giver and the other one taker. Buyer and seller should the perfect word to define this mode. This format involves the money which is transacted in two parts. The one way is transparent which is made open, and the other one is hid by all the involved people. At this juncture when demonetization has come up to cast its spell upon each and every walk of life, the cash crunch will compel the people to do the things in different behavior. As per the comprehensive analysis made by the reputed Dwarka L Zone based consultant DDA Smart Cities, the impact will last only for 6-12 months and the dealings affected will be only 15 to 25%.

People should not stay clueless about these impacts

If you are the one who is highly apprehensive about the impacts of demonetization on the property market, then you should seek proper and well analyzed consultancy services from DDA Smart Cities. Needless to say, each and every bad impact or circumstance has a silver lining, and the demonetization also has offered many opportunities to be grabbed by the people like you. Once you are guided, you will find yourself able to make the most of this highly precious opportunity.



Making Delhi a Smart City

Delhi smart cityWith rapid urbanisation, NCR is set to become a megapolis. Is the Capital set for a new skyline?

On June 25, Prime Minister Narendra Modi will unveil the ambitious Rs. 48,000-crore Smart City project. For the Capital, the project is bound to catalyse urbanisation with several “Smart Sub-Cities” expected to come up in the future. The Centre has already cleared the decks for implementation of the project by introducing the “Land Pooling Policy”.

For Delhi, the biggest curse has been unplanned urbanisation. Failure to deal with rampant unauthorised construction along with multiplicity of authority has weakened any remote scope of “development through blueprints”. In fact, the situation is so watertight that the land-owning agency, Delhi Development Authority (DDA), has been unable to acquire a single additional plot for over a decade now. Further, Delhi’s population is expected to increase from 1.82 crore to 2.3 crore in just six years. In such a scenario, the only way is to look beyond the haphazardly developed city and focus on its fringes. The Land Pooling or Land Assembly policy will play a pivotal role here as it would make the concept of unauthorised colonies obsolete by bringing in fundamental changes in acquisition and development of land. It is expected that 20,000-25,000 hectares of land will be unlocked through this policy, thereby resulting in the creation of 24 lakh houses.

What is Land Pooling Policy?

Under the policy, interested land owners can surrender their land and give it to the DDA along with a development charge. The DDA, in turn, will give the land to real estate developers. Once developed, the developer entity or land owners who surrendered their land will get back 48 per cent or 60 per cent of what they pooled in. The rest of the developed area — 52 per cent and 40 per cent, respectively — will be retained by DDA or the private builder who can put it on sale. The housing and commercial projects will have to be developed within seven years. Additional time will be given only on payment of a penalty.

Once implemented in Delhi, the project can also be carried forward to the National Capital Region (NCR).

How will the Sub-Cities be created?

The plots surrendered will be clubbed for holistic development, leading to the creation of several sub-cities. Land owners can also assemble lands through mutual agreement and give it as one large plot to the DDA. The DDA in its zonal plans has ear-marked specific usages of land in these areas with developers building the sub-cities according to a prescribed blueprint. There are nine land use categories that include residential, commercial, industry, transportation, utility, public and semi-public facility, recreational, among others.

How will they become “Smart Sub-Cities”?

The Government of India (GoI) will announce the “Guidelines to Smart Cities” on June 25. It will be binding on private developers and the DDA to ensure that these are followed. The smart sub-cities will have 24-hour water and power supply, high-speed wi-fi connectivity, Transit-Oriented Development Model, efficient solid-waste management system and green buildings.

Two major Smart Cities in the making

If experts are to be believed, Delhi is the ideal city to flag off the Smart City project. Out of the five zones, at least two — Zone L and N — have the required physical and economic characteristics to evolve as self-sufficient smart sub-cities. ‘Zone J’ is the smallest with just one village (Neb Sarai) while ‘Zone L’, which is next to Dwarka, is the largest with an area of 22,840 hectares. It includes parts of Najafgarh, Dichaon Kalan, Qazipur, Samaspur Khalsa, etc. This is followed by ‘Zone N’, which covers an area of 13,975 hectares and includes villages like Kanjhawla, parts of Bawana, Chandpur, Salahpur Majra, and so on.

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DDA to float tenders for 3 smart cities

smart cities news

NEW DELHI: Delhi Development Authority (DDA) will float the tenders for developing three integrated sub-cities in Dwarka, Narela and Rohini next month and the work for Yamuna river front development will start by October 2.

The housing and urban affairs (HUA) ministry set these timelines for DDA on Friday. It was also decided that all the three sub-cities will have the features of smart cities including round the clock water and electricity supply, 100% treatment of both solid and liquid waste, rainwater harvesting and smart lighting, to name a few. These sub-cities would be developed better than any city developed by private players in the National Capital Region, sources said.

“DDA will invite bids in the second week of August. The authority has proposed to develop integrated cities with smart features on available vacant lands at Dwarka (200 hectares), Narela (218 hectares) and Rohini (259 hectares),” a HUA ministry official said. He added that the developers will be selected by October. The decisions were taken at a meeting chaired by HUA secretary Durga Shanker Mishra and DDA vice-chairman Uday Pratap Singh besides other senior officials.

DDA has assured the ministry to start Yamuna bank development works over 500 acres along Old Railway Bridge-ITO barrage stretch October 2. It was also decided that the road between Indira Gandhi International Airport and Connaught Place will be developed to global standards by March 2020. Final drawings for this will be approved by December. One of the four alignments proposed by the consultant will be finalised early next month.

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Andhra Pradesh Chief Minister Nara Chandrababu Naidu has said that his government’s new land pooling scheme is aimed at making the farmer the ultimate gainer, as farmers have voluntarily given up their land for infrastructure building in the bifurcated state. In an exclusive interview to ANI, Naidu said, “In the land pooling policy, the farmers are the ultimate gainers in the system. This has never happened in the history of India or even in any democratic country. Many global education institutions, international hotels, IT companies and world class infrastructure are coming here in Amravati now. I am trying my best to develop infrastructure to strengthen the economy. Once developed, you would see it as among top five global cities.”

The Andhra Pradesh Capital Region Development Authority (APCRDA) has guaranteed the return of reconstituted land and payment of benefits to land owners per every acre voluntarily handed over. It is notified that for every acre of Jareebu (semi urban) land, 1000 square yards of residential plots and 450 square yards of commercial plots for Jareebu lands will be returned to the land owners. For dry land, 1000 square yards of residential plot and 250 square yards of commercial plots will be returned for every acre.

With a slightly different package, possessors of assigned lands, POT lands, un-objectionable government lands and even objectionable government lands, will get the benefit of returnable plots ranging from 800 square yards to 250 square yards of residential plots and 450 to 100 square yards of commercial plots per every acre they surrender to the government. Apart from that, other benefits given to farmers are per every acre annuity for crop loss will be paid Rs. 30,000 for dry and Rs. 50,000 for Jareebu lands for a period of 10 years. Ten percent of enhancement of annuity is assured.

One time additional payment up to Rs 1 lakh for gardens like lime, sapota, guava, amla and jasmine will be given and up to Rs 1.50 lakh in agriculture loans has been waived for each family. Apart from this, Rs 2,500 per landless poor family per month for a period of 10 years would be given.

NTR canteens have also been established at Velagapudi and Thullur for providing food at cheaper rates.

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