DDA has fixed Land Rates for industrial and commercial properties
Delhi Development Authority has finally fixed land charges for freehold conversion of industrial and commercial properties for the year 2016-17.
The DDA budget for 2016-17 with the revised estimates for 2015-16 was introduced in a meeting held in March. The proposal for fixation of land rates was also approved in the meeting.
The rates will be Rs 77, 815 Rs/sqm for North East, West and Rohini zones, Rs 31, 12 for Narela zone and Rs 1, 12, 050 for South-Centraland Dwarka zones.
“Similarly, with respect to industrial properties, the rates will be Rs 67,232 for South-Central and Dwarka Zones, Rs 46,690 for West, North East and Rohini Zones and Rs 23,346 for Narela Zone,” DDA said.
The rate the multi-complexes and shopping centers will be further improved by 50% for each penny, i.e. 1.5 times the typical rates.
These charges will be applicable only for calculation of conversion rates for the conversion of industrial or commercial plots from leasehold to freehold. They shall also be applicable for commercial built-up properties.
DDA also approved a proposal in the budget for fixation of land rates for purpose of calculating conversion charges from leasehold to freehold with respect to areas under multi-level parking for the year 2015-16 and 2016-17.