The Society aims to facilitate acquisition of agricultural land in this area, which will then undertake construction of a Group Housing project once the gross residential land is returned by DDA after development in lieu of the agricultural land pooled as per the Government Notification SO 2687 of 05 Sept 2013 and all the requisite approvals from the Governmental authorities have been obtained. The land is to be allotted within the “L- Zone” (within a radius of around 0-5 kilometer from Dwarka) for the Society’s Housing Project. The government is likely to come up with detailed regulations by early 2016, based on which the approval for commencing construction will be undertaken. Therefore, the financial outflow will be staggered over the period and in the meantime, the value of the land would also appreciate as time passes by, hence the most beneficial groups would be the early subscribers to the scheme.
Our society aims to procure land for the Project at better locations, closer to Dwarka and IGI Airport. The land prices are going up rapidly following Government’s announcement of the “Smart City”. Therefore, the present land cost is expected to increase substantially in the coming months compared to the cost currently being charged by the Society / Developer.
The society, therefore, aims to arrange resources and register the land in its name from the Developer at the earliest, to reduce the Project cost, in view of the rush by various competing developers and Societies to procure land in that area.