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Realtors allowed to build taller buildings in Delhi’s slum areas
By ronitkumar | August 18, 2008
Realtors allowed to build taller buildings in
Delhi’s slum areas
THE government will incentivise builders for redeveloping the Capital’s old markets and slums. Real estate companies can now build taller structures while remodelling shopping centres and slums as government would enhance the floor area ratio (FAR) for undertaking such projects.
They can avail up to an FAR of 4 if they go in for redevelopment of markets like Sarojini Nagar and Karol Bagh, an official in urban development ministry said. The government would also allow the developers 20% of the FAR for individual use. The redevelopment schemes for
Delhi have been incorporated in the Master Plan 2021.
“The Master Plan would allow redevelopment provided the builders secure approvals for their building plans. Higher FAR will, however, not be permissible in redevelopment of Lutyens Bungalow Zone, Civil Lines Bungalows Area and monument regulated Zone,” a senior urban development ministry official said.
Apart from re-development of Karol Bagh and Sarojini Nagar, many other shoppong arcades and centres would be remodeled on the similar lines. This include , , , Janakpuri, Laxmi Nagar, ( Raja (Wazirpur), Saket, (Rohini).
Nehru Place
Garden), Jhandewalan,
In slum-redevelopment plan of the capital, the developers would be allowed to build houses for the slum dwellers and in return get a portion of the total space for development which they can sell at market rates. They will avail higher FAR and thus book higher margins in these projects.
Delhi has around 900 slum clusters housing almost a fifth of its population. The initiative to redevelop 30 clusters is a major task for the government and urban development ministry. This is the first time the
Delhi government is set to involve private developers in these projects. Several real estate firms, including
India’s largest real estate development projects and are waiting for the government’s nod.
The slum redevelopment projects in the capital will be on the lines of similar projects being undertaken in Mumbai’s Dharavi or other slum areas.
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