Gone are the days when people used to invest in fixed deposits, savings accounts or even the insurance plans. Due to the boom in the real estate sector in major metropolitan cities of India, real estate has become the darling of everyone’s eyes and people are investing heavily as they see it as a safe bet for the future as well as for present consumption. The large scale of development that is going on in the cities has made it possible for people to buy flat in Delhi and at rates which are as per the market and on an upward trend. In such people, the most prominent ones are the politicians, actors, celebrities and more recently, cricketers. Also you can find Bhusan Kumar’s luxurious home in Delhi.
The latest addition in the list of cricketers who have opted to buy flats in prime locations in metros is the name of Virender Sehwag who has recently bought himself and his family a mansion in Hauz Khas area of Delhi. The area is one of the priciest locations in the city and the cricketer has invested a fortune in buying the house in Delhi. It is one of the most sought after locations and the market rates touch several thousand rupees per square feet, which is within the reach only for the people who have heavy pockets. The house is among one of the best properties that Virender Sehwag has in his kitty and will be the permanent residence of the cricketer in some days’ time.
The property is located in the hub of Delhi’s night life and party arena and people from all over Delhi come here to spend the weekends. It is due to this traffic that property buyers want to own a piece in this hub and the rates are so steep. If there is one area where it is difficult to buy property in Delhi, it is this. And now Sehwag has managed to own a house in this location is nothing short of a miracle for many who have been trying to find a suitable one for many years. The flat will be the residence for his and his family.
The area is well connected to the rest of Delhi by a good network of roads and metro rail. Even after being at the center of Delhi, it is located at a very suitable and convenient location which is much away from the traffic and pollution of Delhi. Furthermore, the connectivity of the area with the airport makes it a big plus for the cricketer to buy the house in Delhi’s this area as the frequent trips can be done without any extra hassles.
Off late, the real estate sector has become the hottest area for investment in the metros and many top celebrities are also showing a lot of interest in owning a piece of this growing balloon. It is just a matter of time before other cricketers follow suit and it won’t come as a surprise if one of them owns another piece of land in the same area itself.
After two years, the Union Ministry of Urban Government has given its approval to Delhi’s LLP (Land Pooling Policy). The Chief Minister of Delhi, Arvind Kejriwal has been notified the rules and conditions after getting permission from the Lieutenant Governor. Around 89 villages have been turned into urban under this new rule and will also be developed as per the DDA (Delhi Development Authority). Over two years, the policy was stuck because of not getting approval for urbanizing agricultural lands from the concerned authorities. According to the Delhi Municipal Corporation Act, 1957 of section 12, once rural villages have turned as urban then they required being converted into developmental areas. Only after satisfying these criteria the Delhi Development Authority can able to invite aggregators and landowners to surrender their lands.
What is DDA 2021 Master plan?
The existing property in Delhi are far from the reach of a normal man, and the space crunch also restricts some new developments. Due to these two aspects, the Delhi Government has hardly participated in the Delhi Property markets. The Delhi Development Authority has planned to build up to 25lakhs of housing units by 2021 under its Master Plan. This plan would require land of 10000 hectares in order to meet its target. This DDA policy will surely affect six satellite zones and around 96 villages. However, this will help the development body a lot to meet its target. Even if half of the 20000 acres of land has developed, then it would be enough to fulfill the housing needs of the National Capital Delhi, according to the DDA and hence the government is taking steps in this direction.
The Scheme of DDA
Under the Master Plan 2021 scheme, farmers can directly able to transfer their agricultural lands to the DDA that would accept the land parcels, which is more than 2 hectares. This is because those two hectares used to develop infrastructures like drainage, road, water supply, electricity, sewer lines and so on. After that, the Government body would also return some fixed percentage of lands to the farmers. For both parties, this policy is a win-win situation. The Delhi Development Authority’s land pooling model has two types of schemes such as,
- People those who surrender land between 2 to 20 hectares can get back 48% of the developed land parcel
- People those who contribute more than 20 hectares can get 60% of the developed land parcel back.
Certain conflicting policies
The Government has approved FAR (floor area ratio) for the Transit-Oriented Development Policy. FAR means the ratio of the sum of building floor area to the plot size on which it is built at 400. However, the floor ratio is less than 250 for the LPP. While Transit-Oriented Development Policy promotes a development of areas within high transport systems like the Delhi Metro, but LPP aims to develop a large area for a residential and commercial purpose.
The luxurious home that the owner of T- Series Mr. Bhushan Kumar possesses in Delhi is the reflection of style, elegance, peculiarity and beauty under one roof. Though the house was built 9 years ago, it has been renovated five years back from now. The splendid building of the house has seven bedrooms, three living rooms, and two dining rooms. Built over an area of 1,100 sq yards in Greater Kailash area it is spread across three storeys. Each part of the house comprises of some beautiful artifacts that are the best in the respective field. It has been designed by a renowned interior designer of the industry. Both Divya and Bhushan have been very specific regarding their choices and the degree of impeccability they desired their house to be blessed with. This beautiful of the home has almost each facility that can offer the best dwelling to the resident.
Higher outlooks offering spectacular appeal
As one steps up into the vivid residence of Bhushan’s, high ceilings embedded with stunning lighting variants greet the visitor and offers a chance to surrender himself and get lost in the overwhelming spark they emanate. The main motive behind preferring higher ceilings over ordinary ones was to gift the house with animmense spaciousness that redefines the charm and jaw-dropping appeal it possesses. Moreover these days the trend of sophisticated high ceilings is on the go, thereby influencing masses to opt for such classy well designed stunning options. The house is an epitome of indo-western culture focusing on modern outlooks with the essence of conventional beliefs, as a result of this unique theme the house stands at a prominent place among one of the top and luxurious homes in Delhi.
Have a glimpse of this lavishing beauty
Undoubtedly the house is an appreciative mix of traditional and modern culture thereby redefining the old values with a modern and stylish twist, same follows with the furniture as every single piece of it has been selected from the limited edition offered by leading foreign and Indian brands. Moreover,the residence houses lustrous lighting tools that enhance the overall appeal of the interiors in one go, the couple has been very selective regarding the lighting construction in different areas due to which different areas possess varied lighting settings. The Led neon lights used in the dining room, dim lights for the stairway and glass chandelier in the drawing room offers acharismatic view of the house. Moreover, these lighting options are embedded with adjustment features that allow one to change the lighting intensity as per the desired mood.
The flooring comprises of marvelous marbles emanating lavishness as an essence of the neutrality they embody, their red colored edgy bedroom depicts love,style, and youthfulness and adds up to the peculiarity of the home. The traditional swing in the living room is the favorite place for spending some peaceful,memorable moments.