DDA's Bold Reforms Propel Delhi's Real Estate Revival

The Delhi Development Authority (DDA) has introduced significant reforms to boost Delhi's commercial real estate sector. By reducing amalgamation charges and the multiplication factor for property auctions, the DDA aims to attract major investments and development. These changes are part of a broader strategy to make Delhi more competitive in the NCR.

The Delhi Development Authority (DDA) has launched a set of transformative reforms targeted at rejuvenating the commercial real estate market in Delhi. In a pivotal meeting chaired by Lieutenant Governor V K Saxena, the DDA declared a major cut in amalgamation charges for commercial properties.

This strategic decision reduces the charges from 10% to a mere 1% of the circle rate, potentially sparking a surge in commercial real estate activities in the city. Aimed at exploiting underused plots, the reforms make it financially feasible for developers to consolidate land for expansive projects.

Additionally, the DDA announced a reduction in the multiplication factor for property auctions, from double to 1.5 times the circle rate, aligning property valuations more closely with market trends and increasing Delhi's competitiveness within the National Capital Region. Beyond policy changes, the DDA plans to transform Narela into an educational hub and introduce a premium housing scheme by 2025, offering affordable residential options.

(With inputs from agencies.)