DDA to raise conversion charges of land
26 Jun 2023
2 Min Read
CW Team
The Delhi Development Authority (DDA) is set to increase charges for conversion of land from leasehold to freehold for commercial and industrial properties as well as multilevel parking in the city.
In its last meeting, held on June 14, the authority gave approval to hike the rates for FY 2023-24 by 10% on last year's rates.
"While we can implement the decision on a provisional basis, a proposal will be sent to the ministry of housing and urban affairs for final approval and notification, which is expected soon. The conversion rate is 6% of the land value and the increase will be 10% of this value," said the official.
In the case of commercial properties, the land rates for calculating conversion charges have been proposed to increase from Rs 1,98,504 per sqm to Rs 2,18,354 per sqm for the Central, South and Dwarka zones. For the West, North, East and Rohini areas, the rates are expected to go up from Rs 1,37,855 per sqm to Rs 151,640 per sqm. For Narela, they are set to be hiked from Rs 55,144 per sqm to 60,658 per sqm.
In the case of industrial properties, the leasehold-freehold conversion charges in Central, South and Dwarka zones, have been proposed to increase from Rs 1,19,106 per sqm to Rs 1,31,016. For the West, North, East and Rohini areas, they will increase from Rs 82,715 per sqm to Rs 90,986 per sqm. In Narela, the rate will be hiked from Rs 41,359 per sqm to Rs 45,494 per sqm.
The Delhi Development Authority (DDA) is set to increase charges for conversion of land from leasehold to freehold for commercial and industrial properties as well as multilevel parking in the city.In its last meeting, held on June 14, the authority gave approval to hike the rates for FY 2023-24 by 10% on last year's rates.While we can implement the decision on a provisional basis, a proposal will be sent to the ministry of housing and urban affairs for final approval and notification, which is expected soon. The conversion rate is 6% of the land value and the increase will be 10% of this value, said the official.In the case of commercial properties, the land rates for calculating conversion charges have been proposed to increase from Rs 1,98,504 per sqm to Rs 2,18,354 per sqm for the Central, South and Dwarka zones. For the West, North, East and Rohini areas, the rates are expected to go up from Rs 1,37,855 per sqm to Rs 151,640 per sqm. For Narela, they are set to be hiked from Rs 55,144 per sqm to 60,658 per sqm.In the case of industrial properties, the leasehold-freehold conversion charges in Central, South and Dwarka zones, have been proposed to increase from Rs 1,19,106 per sqm to Rs 1,31,016. For the West, North, East and Rohini areas, they will increase from Rs 82,715 per sqm to Rs 90,986 per sqm. In Narela, the rate will be hiked from Rs 41,359 per sqm to Rs 45,494 per sqm.
Next Story
Coal India to List Subsidiaries Bharat Coking Coal and CMPDI Soon
Coal India is set to begin the process of listing two of its subsidiaries鈥擝harat Coking Coal Limited (BCCL) and Central Mine Planning and Design Institute (CMPDI). Draft papers are expected to be filed soon, according to Debasish Nanda, Director of Business Development at Coal India.Speaking at the CII Mining and Construction Equipment Summit, Nanda said the company is preparing to file the Draft Red Herring Prospectus (DRHP). The appointment of the Book Running Lead Manager for the initial public offering (IPO) has already been completed.The timing of the listings will depend on favourable ..
Next Story
SMPK Eyes Double-Digit Cargo Growth in FY25 After Uptick
Syama Prasad Mookerjee Port, Kolkata (SMPK), is targeting double-digit cargo growth in financial year 2025, supported by mechanisation projects at Haldia and Calcutta, night navigation support, and a revival in the steel sector following a safeguard duty to protect domestic industry.The port handled 63.95 million tonnes of cargo in FY25, a decline of 3.75 per cent from the record 66.44 million tonnes in FY24. Meanwhile, the twelve government-controlled major ports collectively posted a 4.34 per cent rise in cargo. SMPK recorded a 45.32 per cent increase in cargo handling in April 2025 compared..
Next Story
Craftsman Automation Plans Rs 7.5 to eight Billion Capex in FY26
Craftsman Automation, a leading manufacturer of auto components, has announced plans to invest Rs 7.5 to eight billion in capital expenditure for the financial year 2026. The company aims to increase its revenue to Rs 70 billion during the same period, demonstrating strong growth aspirations.Chairman and Managing Director Srinivasan Ravi disclosed these plans during the company鈥檚 Q4/FY25 earnings call. He emphasised that the company continues to prioritise expansion while maintaining operational resilience amidst a highly competitive manufacturing environment.This capital investment underlin..
