MPD 2021– A CONFUSED APPROACH. IS 2011 GOING TO BE DIFFERENT?
Redevelopment besides, the MPD 2021 almost brings to fore fresh development opportunities in all spheres, including infrastructure, parking, SEZs, a fresh supply of virgin land exceeding 50,000 hectares. Also, developers please note that Delhi would at all times be more attractive to an institutional investor, compared to any other tier II, Tier III city.
Wasn’t Mr. Chairman right when he said that the “next Leader Company would arise from Delhi?”
Buyers – The master plan of Delhi talks extensively on the concept of integrated cities, wherein the ‘walk to work’ concept can truly be implemented. Assuming all goes to plan, aided by the multi level investments from the Center, State, MCD & local civic authority & the robust private sector, the developments under the new master plan would be a lot different than the surrounding cities.
Ask yourselves – “If you get to live where there is connectivity, better power supply scenario, the capital of the country, functional metro, local transportation, better policing & security & source of livelihood, and products in all price categories, would you still want to go a few score miles out?”
I rest my case, your honours !!!
Farmers & Land owners – Owing to the better social infrastructure in rural Delhi, the second generation of land owners in Delhi understand economics better, and aren’t averse to buying land farther, at cheaper prices, after getting their rightful price of land in Delhi. Also, it is almost recognized in all quarters of governance today that Delhi is no longer an agrarian state; why talk farming excepting vegetables.
For the private players, buying land cheaper than the NCR markets, within the boundaries of NCT, is not a challenge anymore. The caveat as usual remain, if they are aided by knowledge.
The creators of the Delhi master plan are not shouting from their rooftops about a fact, for reasons unknown. MPD 2021 document won the ISOCARP award 2008 for Urban planning, competing with 6 other cities of the world.
The recognition citation reads –”For the capacity to articulate a holistic planning at one of the most complex metropolitan areas of the world, and facing key changes that are in common in many other megalopolises of the planet: from shelter to trade and commerce, from industry to environment, from conservation of built heritage to urban design and from development code to plan monitoring.”
In summary, if you are a stakeholder of any sort in the real estate industry, here is one opportunity you can risk “Ignoring at your own peril”
Ramesh Menon is a Director with Certes realty Ltd, a domain focused advisory firm on the Delhi Masterplan 2021