The Delhi Development Authority Budget for 2016-2017 along with Revised Estimates for 2015-2016 was presented before the Authority in a meeting on Friday during which it approved the proposal for fixation of land rates.
“The rates will be Rs 1,12,050 (rates in Rs/sqm for 100 FAR) for South-Central and Dwarka Zones. Rs 77, 815 for West, North East and Rohini Zones and Rs 31,12 for Narela Zone.
“Similarly, with respect to industrial properties, the rates will be Rs 67,232 for South-Central and Dwarka Zones, Rs 46,690 for West, North East and Rohini Zones and Rs 23,346 for Narela Zone,” DDA said.
However, the rate for malls and multi-complex will be further enhanced by 50 per cent, i.e. 1.5 times of the normal rates.
These rates will be applicable only for calculation of conversion charges for the conversion of commercial or industrial plots from leasehold to freehold and shall also be applicable for commercial built-up properties, it said.
The Authority also approved a proposal in the budget for and fixation of land rates for purpose of calculating conversion charges from leasehold to freehold with respect to areas under multi-level parking for the year 2015-16 and 2016-17.
“The rates for multi-level parking will be Rs 39,218 for South Central and Dwarka Zones, Rs 27,235 for West, North East and Rohini Zones and Rs 10,894 for Narela Zone.”
Credits ET Realty