India, Aug. 23 -- An individual plot identified in the Transit Oriented Development (TOD) corridor can be converted into freehold under the Master Plan of Delhi-2047, in a bid to encourage private-sector participation among other objectives. The freehold status accords absolute and complete ownership of the land in question and also of the structure upon it, as opposed to the lease model under which a governing authority, such as the DDA, would retain the ownership of the land while allowing its use by the leaseholder. As per the master plan, the entire TOD zone shall be declared as a Development Area to fast-track the approval of projects in the corridor. Also Read - Light rain likely in city Advertisement "Individual plots forming part of a consolidated TOD plot, held on a leasehold basis, shall be deemed freehold, except institutional plots on leasehold, subject to clearance of all dues," the Master Plan of Delhi (MPD) states. The Delhi Development Authority (DDA) shall be the nodal authority for approval of TOD projects and sanctioning of building plans, it adds. Many properties in Delhi are currently on a leasehold basis, which means ownership belongs to the DDA. But the MPD-2027 paves the way for freehold ownership, free from leasing. Another feature of the MPD is the availability of multiple development models, which is expected to give landowners greater flexibility to participate in planned development while ensuring timely execution of infrastructure. "Under MPD-2047, roads with a width of 30 metres and above will be notified and developed directly by DDA. The new urban areas will be developed as self-contained neighbourhoods with schools, healthcare facilities, parks and green spaces, commercial centres and other public amenities, ensuring that housing growth is matched with quality-of-life infrastructure," the DDA said.
Published by HT Digital Content Services with permission from Millennium Post.