Master Plan Delhi - 2021 to open up rare real estate avenues in Zone 'L'.

An important meeting of land and concerned authorities will take place later this week to survey the progress made till now and map the development for the coming future of Zone L.

New Delhi, Delhi, June 16, 2013 /India PRwire/ -- An important meeting of land and concerned authorities will take place later this week to survey the progress made till now and map the development for the coming future of Zone L. This meeting is being seen as an important step to address the developmental process of this zone. The much anticipated work on the Zone L in West Delhi has gathered pace as real estate developers have outlined it as 'one for the future'.

Being the largest of the 15 zones in Delhi, Zone L covers close to 21933 hectares. The meeting has been seen as a move to facilitate urbanization of this zone as it displays abundance of natural resources in its jurisdiction. In its Delhi Master Plan 2021, the government has already outlined the areas in which they plan to facilitate the state including development, connectivity and housing.

Housing projects have stepped up their work rate as they see this move as a precursor of the government's infrastructural investment in the region. Leading real estate developers' interest in this zone has increased the market value of the area. Over the past 2 years, property prices have gone up by 100% y.o.y and experts believe that it's only going to go further up. Mr. Ramesh Menon, CEO Certes Realty, says "Zone L is a buyers dream. It has no problems with space and the natural greenery around the area makes it a beautiful choice for people looking to invest in property. It's also very attractive for real estate developers. With the government showing such promise with development, this area will soon become the most sought after property in Delhi." Experts believe that the area will see the right mix of townships and individual properties.

The zone will also see a steep rise in the number of farmhouses. Due to the government's directive of allowing farmhouses only in greenbelt, the number of upcoming farm house in other parts of Delhi have dwindled. But Zone L is right along the green belt, and also boasts of a large green cover. 7,000- 10,000 farmhouses are expected to come up. "There is something for everyone in this area. This area will be a home to people with varying budgets. And that is what the real estate industry is banking upon", adds Mr. Menon.

The experts' view on this matter is pertinent as the development authorities have increased their developmental and space management work. The area will be seamlessly connected with Dwarka, Gurgaon and other parts of Delhi with a number of high quality roads. The inner city roads will all be over 30 mts wide, while the main roads will be 100 mts wide.

The zone is expected to be a home to 30 lac people in the coming years. On the face of it, there are no space related problems. But the authorities may face some minor hiccups. The area has 154 unauthorized colonies. The authorities are working hard to regularize such colonies. But this number is a dwarfed when compared to other zones like P2 where the number of unauthorized colonies is in excess of 600. Keeping in mind the fact that Zone L is the largest zone, this number covers a very miniscule part of the whole area. The government has already sanctioned the Dwarka-Najafgarh Metro line that will seek to carry people to and fro from all parts of the NCR. Dwarka will be seen as a role model for development. The neighbouring area, which comes under Zone K, will be seen as a key area to help accommodate and facilitate the commercial expansion of Zone L.

Dwarka has been provided with ample facilities like markets, wide roads, Metro, hospitals, schools and sports complexes. The concerned authorities are working hard to get all these facilities like Hospitals, dispensaries for pets and animals, schools, technical training centers, petrol/CNG pumps, Bus terminal, Fire station and other infrastructural necessities to Zone L.

Availability of employment opportunities is another aspect that the authorities have kept in mind. To meet these needs the Delhi State Industrial and Infrastructural Development Corporation Ltd. has been promoting the setup of 2 SEZs in the zone. The 2 SEZs will be for IT and the Gems & Jewellery industry. These industries are expected to provide ample job opportunities for the people living in that zone.

Amidst all these infrastructural developments, the Government is also hoping to preserve the greenery. The area has a number of water bodies too, including Najafgarh Jheel, which will be maintained to keep the ecological balance. The authorities are also planning a water body which will be spread over 900 acres.

The opportunities for successful development are available and being enjoyed by Real estate developers of all sizes. The Kapashera Tehsil is receiving over 60 registrations per day. Considering the acute understanding and foresight of real estate developers, one can only conclude that this area is going to see major movements in the real estate market. Mr. Menon says, "This area is definitely on the up. Property rates are still very affordable, but the rates will keep on going higher. That is why all real estate players have lined up their housing projects here. It will be like a buyer's haven. I think now is the right time to invest in this area."

The development has already started and with all the positivity regarding the area it wouldn't be much of a surprise if Zone L becomes the new hotspot for housing in Delhi NCR.

Notes to Editor

Certes is a research-advisory-transaction specialist organisation in the domain of Land and beyond.

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