DDA to retain the existing rates for additional FAR till June 30

NEW DELHI: Giving relief to real estate developer, the Delhi Development Authority (DDA) has decided to not change the price for additional FAR (floor area ration) and land use conversion till June 30, 2021.

“The additional FAR and use conversion for residential, mixed use, cooperative group housing societies (CGHS), and commercial properties were rationalised and notified in June 2018. However, the policy could not be implemented due to procedural aspects,” DDA said in a statement on Tuesday.

“Therefore, extension of time for applicability of existing rates had been given periodically. Due to impact of Covid 19 pandemic on economy, the existing rates are being retained for a further period of six months i.e. up to 30.06.2021 to provide relief to the lessees/owners of these properties,” DDA said.

The authority held its meeting on Tuesday and approved multiple proposals.

The authority has also approved the TOD policy and it will now be sent to the Ministry of Housing and Urban Affairs for consideration and final notification.

The policy for Transit Oriented Development (TOD) in Delhi was proposed along the influence zone of metro corridors and its provisions were incorporated in the various chapters of MPD-2021 notified by MoHUA in 2015.

“However, considering the carrying capacity of Delhi in terms of infrastructure requirement, the TOD Policy for Delhi was revised and notified by ministry again in December 2019 in which mixed used development was allowed only at the identified selective nodes of metro/ railway stations after assessing the impact of development on traffic and infrastructure requirements,” DDA said.

This revised TOD policy was incorporated as a separate chapter in MPD-2021.

“However, it required certain rectifications in the corresponding chapters to enable the revised TOD policy to be implemented on ground. In this regard, DDA had invited objections/ suggestions from the general public with respect to the proposed modifications in February 2020. After considering the objections and suggestions from general public, the proposed modifications in MPD-2021 was approved. In the authority meeting held on December 23, 2020, TOD Regulations were approved. After final notification, it will pave way for implementation of revised TOD policy,” DDA said.