What is Land Pooling Policy?

India is one of the developing countries of the world, which is rapidly developing in every sector. Be it education, sports science & technology, real estate and many more. If we talk about real – estate sector, the country

Has emerged with a well- known policy, i.e. “Land Pooling Policy or Readjustment”. The ministry or urban development has come up with this policy couple of years ago i.e. 5^th September 2013. The real- estate sector has recently got the regulation approved by the ministry or urban development. Before we, proceed further what the ministry has come up with here is a brief introduction about “what is land pooling policy”.

What is land pooling policy?

Land pooling policy is a technique through which an urban housing is created. In this process the people (owner) from the rural areas pool their property with the urban investors and then that property is being developed and designed by the authorized sector i.e. DDA Once the property gets ready with the final touch up. It is ready for dale. Through – out this process, the rural people are not supposed to interfere, but when it comes to the sale of the property, the property owner has the right to ask for the benefit.

Then, the people of urban society who were involved in the project are supposed to give their profit, whether money or property (as their compensation).

This policy has come into existence to prevent the unfair selling and purchase which is made by the urban class to the rural class.

Now, it we talk about the latest regulation that has brought or approved ministry of urban development. The regulation is meant for DDA. DDA is accountable for developing the housing for every class of people but the major concern is for weaker section of the society.

The Regulation has come up with five major amendments which is in favor of pooling party. One of the regulations is to provide housing for weaker section of the society. Any kind of delay in the construction will cause penalty to the DDA and authorized organization which is hired for the development. 2% of the External development charge will be imposed over the DDA and accountable organization.

Conclusion: The property owners who are unable to make profit from their property can invest now with DDA. Where in the will get 43% to 60% It is a safe regulation which is made by the ministry of urban development. This regulation will be regulating 2 months from the date of approval.