SDMC allows extra floor in posh resettlement colonies

In a move which will give a major push to property prices in posh colonies, South Delhi Municipal Corporation (SDMC) has approved an extra floor and basement in plotted areas of selected resettlement colonies. And coming as a bumper bonus, commercial activities will be allowed on all 

four floors.

Making the announcement at a joint press conference, Mayor Subhash Arya, Standing Committee Chairman Radhe Shyam Sharma, and Leader of the House Ashish Sood said, “The construction of four four-storey buildings (including basement) with lift facility can take place on properties/plots approved before 1962 in the rehabilitation colonies.” 

The colonies falling in the areas of Rajouri Garden, Green Park, South Extension, Hauz Khas, New Friends Colony, Defence Colony, Kirti , and Punjabi Bagh are going to benefit from this.

Earlier, commercial activities were allowed only on the ground floor. The market analysts have claimed that extension in both upper and lower limits will lead to a significant hike in property rates in these localities in the Capital. 

“Presently, the cost of a 200 m floor varies between Rs 4 to 6 crore, but now that would jump three-four times as commercial activities are allowed on each floor,” said an analyst.

  As per this amended plan the new height allowed now is 15 m for a plot measuring 100- 250 metres with ground coverage of 75 per cent and floor area ratio (FAR) now rises to 300.

“The corporation has estimated that nearly 16,000 properties will get benefit from this decision,” said Ashish Sood, Leader of the House. 

It was also announced that the Corporation will extend the facility to other parts of South Delhi before the 2017 municipal polls. However, allowing commercial activities on such a large scale may add to the prevailing civic chaos in areas known for their space crunch and traffic related woes.