Thursday, June 22, 2017

Avoid invest in L-ZONE ,Delhi


Urbanization plan for Delhi , has made the investors as well as the developers/builders more aware of the rising costs of housing and earlier bookings for plots/flats to minimize costs. L zone is one of such zones which is spread over 22480 hectares in south-west Delhi( near Dwarka) currently to be acquired by DDA under land pooling policy . Villages to be covered under urbanization plan are Jharoda kalan, Chhawla, Mitraon,Gommanhera etc. Many reigistered and unregistered Builders have already started collecting money from the buyers on the pretext of acquired plots , which is far from reality.

As per the Delhi Master Plan of 2021and the new land pooling policy of DDA, 5 new smart sub-cities are planned in Delhi in Zone K-1, Zone L, Zone P-2, Zone N,  and Zone J.

Out of these 5 zones, Zone L is getting particular interest from investors and developers because of its location advantages. Zone L is between Dwarka, Gurgaon and International Airport.
Pre-launch projects are illegal , and DDA has often issued public notices to warn the public against such offers by the Builders.

DDA has issued these notices several times warning people against registered and unregistered societies floating attractive schemes for booking of plots and flats claiming that the land for the purpose is with them under the land pooling policy. 

 “No one really knows the status of land acquisition in the region. Developers have claimed that they have acquired land parcels. The government should verify these claims and buyers should also check, before investing their money into these projects,”

Zoning will take time and finally land transfer certificates will be handed over to the Builders/ Developers to start their own projects. Some of the Builders have erected huge hoardings in the villages covered under L zone , by paying the farmers good money for their illegal advertisements, which claims ownership of the plots and lucrative rates for flats. Although Real Estate ( regulation & development) Act 2016 has come into existence from May 2016, may issues relating to true and complete prior information remain unresolved. So investors must make a informed choice before investing hard earned money.

The absence of a real estate regulator has never been felt more acutely than now when all rules of safety are being openly flouted by unscruplous developers. No amount of warning really protects the home buyer, who is promised a discounted home. Such pre luanches have to be made absolutely illegal, with strict action against the erring developers and brokers by a regulatory authority for buyer protection.


Unknown said...

Yes, some builders collecting money.

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