NEW DELHI: The Delhi Development Authority (DDA) has enacted significant reforms aimed at revitalizing Delhi’s commercial real estate sector, making the city more appealing for investment and large-scale development. This announcement was made on Friday.
During a DDA meeting led by Lieutenant Governor V K Saxena, the agency announced a drastic reduction in amalgamation charges for commercial properties, slashing them from the existing 10% of the circle rate to just 1%.
“High amalgamation costs have long been a major hurdle for developers in Delhi. This decision is anticipated to spark a fresh wave of commercial development in the capital,” the DDA stated.
The initiative aims to utilize underused commercial plots, ensuring they become financially viable for developers looking to consolidate land and embark on large-scale projects, the statement noted.
In addition, the authority has reduced the multiplication factor for the auction of commercial properties, changing it from double the circle rate to 1.5 times.
“This adjustment seeks to bring the DDA’s property valuations in line with current market conditions, enhancing Delhi’s competitiveness within the National Capital Region (NCR). Developers have long cited the significant disparities in regulatory costs between Delhi and neighboring cities as a primary reason for relocating their projects,” the DDA added.
By tackling these issues, the DDA aspires to reverse trends and attract more commercial investments back to the city.
In addition to reforms in commercial policy, the DDA has sanctioned a change in land usage across various sectors in Narela.
“The goal is to develop the area into an educational hub while also creating a multi-sports stadium and complex. These initiatives are expected to bolster the planned growth of the Narela sub-city,” the official statement elaborated.
The DDA is also set to introduce the premium housing scheme 2025, offering 177 residential units to middle- and lower-income groups through e-auction in prime locations such as Vasant Kunj, Dwarka, Rohini, Pitampura, Jasola, Ashoka Pahari, and more.
