24/06/2014
The one-acre farmhouse would become the preferred choice for people who want to have second homes and, of course, for investors.
Till now, farmhouses in Delhi were only permitted on a minimum 2.5-acre plot of land, hence the number of farmhouses in the capital was limited to around 2,750, but the new farmhouse policy would permit construction of 10,000 square feet on a one-acre plot of land. This would mean that a few thousand farms would be added to the existing number. Hence, for the kind of money one spends on a builder floor in a posh South Delhi colony, one can stay in a farmhouse, complete with plush lawns and even a swimming pool. Construction of farmhouses may soon be allowed by Delhi Development Authority (DDA) in 26 villages falling in the green belt area, most of them in South Delhi areas like Asola, Chhattarpur and Satbari.
“The new farmhouse policy would have an impact on prices of builder floors and apartments in many upscale South Delhi localities, because the consumer has an alternative. People spending the kind of money needed to buy a South Delhi apartment would buy a one-acre property, construct 10,000 square feet and stay lavishly.
“There is going to be a huge supply of one-acre farmhouses in Delhi, but these organised areas would take anywhere between three and five years to be liveable. Investor interest, however, has already shifted there
Even as the South Delhi residential market is down, farmland rates are going up, hence investors feel it is sensible to invest in farmland for times to come.
