New Land Pooling Policy: Will Increase the Cost of Homes by 40-50 Percent
A housing society group on Thursday urged Prime Minister Narendra Modi to ensure implementation of earlier approved Land Pooling Policy, as the new policy will deprive people of affordable housing in some parts of the national capital, and also warned of an agitation if this was not done. The Federation of Housing Societies and Developers in Delhi (FEDHSDD), which held a day-long protest at the Delhi Development Authority's (DDA) office, also wrote to Modi demanding immediate rollback of modified land pooling policy as it will "increase the cost of homes by 40-50 per cent and affect more than 40,000 people who have invested under the policy". "This sudden spike in rates is because the DDA, in its modified policy, has brought down the Floor Area Ratio (FAR) from 400 to 180. This change defeats the main purpose of affordable housing and will lead to the growth of unauthorized colonies in Delhi," FEDHSDD ...