How to make more money in Real Estate

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Lal Dora Land

 

The term “Lal Dora” was used in early 20th century as to impart the idea of the village part of the main habitation not likely to be used for agricultural purposes. These plots were marked by red tape by authorities to differentiate it from agricultural land. It even applies to the jurisdiction of the municipal authorities have no rights on these lands.

Lal Dora properties are usually available at a very cheap rate compared to properties in colony under authorization. Moreover Lal Dora properties are not well defined and organized giving us a clear idea of the size of plot and it makes them difficult to sell. Astonishingly it makes this market more attractive for builders but it comes with a down side of high-risk investment. These areas face the obvious risk of demolition and eviction by the municipal authorities.

There are around 362 villages in Delhi, out of which 135 are classified as urban village, and 227 are classified as rural villages. Villages like Mahipalpur, Santnagar, Kajhawla, Shapur, Chattarpur,etc are the famous commercial and residential establishment regions which are classified under Lal Dora.

The Lal Dora are can be regularized by registering the construction plans to development authorities. The entire village can also form an association for regularization but it can be a long tedious process. Moreover the Expert Committee on Lal Dora, Union Ministry of Urban Development has also laid down the facts about enhancing property values by provision of increased residential accommodation, parking space, sewerage and public transport. They have planned on an employment orientated activity to generate occupation in those local villages and exploiting the real estate potential in such are by increasing accessibility. Henceforth lot of grants have been also been surfaced to give a boom to this industry.

If one is interested to work in such a land, one has to get a NOC from the magistrate office and also check if the land is liable to any property tax which can all be done at Muncipal Corporation. The Lal Dora certificate needs to be issued which acts like a certificate to identify the actual bearer of the property and amount of land under him/her. It also acts a detrimental factor for receiving a water/power connection to that development area.

If all runs smoothly then the statistics expect these regions realty to grow by 20% and with the new laws and mandates these regions are bound to become hotspots. 

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