India, Aug. 19 -- Narela is set to emerge as a new housing hub in Delhi, with the Delhi Development Authority (DDA) planning to dispose of around 34,000 unsold flats in the area within the next two years. The move comes as the authority sees rising demand for housing in Narela, where it has already sold around 18,000 flats over the last three years. According to official details, the DDA plans to take up the disposal of the remaining inventory in a time-bound manner over the next two years, as demand for flats in Narela continues to grow. The area is also expected to see the development of better housing societies and various amenities, further strengthening its position as an emerging residential hub. Also Read - EC revises Delhi's SIR schedule; final voter list to be published on Nov 4 Advertisement Under the Transit-Oriented Development (TOD) policy, affordable housing is also planned in the area. Developer entities will be eligible for enhanced Floor Area Ratio (FAR), with the permissible FAR ranging from 400 to a maximum of 500, subject to applicable charges. At least 65 per cent of the built-up housing component will have to be used for residential purposes, comprising affordable housing segments with carpet areas of less than 60 square metres. Another 25 per cent will be earmarked for premium segments, while the remaining 10 per cent will be used for local level commercial facilities and social amenities. The model is expected to support a mix of housing categories along with facilities required at the local level. The DDA is also looking beyond Narela for its future housing inventory.
Published by HT Digital Content Services with permission from Millennium Post.