CII Summit Highlights: DDA Plans for Large-Scale Land Development Through PPPs

New Delhi, September 18 / 2024: A recent summit organised by the Confederation of Indian Industry (CII) shed light on the complex dynamics of Delhi’s real estate market. Industry leaders and government officials discussed challenges such as limited land availability, rising costs, and regulatory complexities, CII said in a statement. 

The Vice Chairman of DDA, Subhashish Panda, outlined the agency’s plans to transform Delhi into a global hub for the service industry. DDA is exploring Public-Private Partnerships (PPPs) and developing new regulations to streamline land development processes. Additionally, the agency is working on plans to rehabilitate slums and redevelop societies, the statement added.

Anand Kumar, Chairman of the Real Estate Regulatory Authority (RERA) Delhi, highlighted the positive impact of the RERA Act 2016 on transparency and trust in the real estate sector. He stressed the importance of property registration and called for stricter regulations for e-commerce platforms and government agencies involved in real estate activities.

The CII also organised an Infrastructure Management Conference to address the growing need for comprehensive property management solutions in India. The conference emphasised the importance of integrating facility management (FM) services with other real estate functions to ensure sustainable development.

Jaideep Ahuja, Chairman of CII Delhi and Managing Director & CEO of Ahuja Residency Pvt Ltd, emphasised the sector’s evolving dynamics and its crucial role in urban development, the statement said. 

Harsh Vardhan Bansal, Convenor of the CII Delhi Panel on Infrastructure, Real Estate & Urban Development and Co-Founder of Unity Group, expressed concerns over the lack of regulatory clarity that has hindered developers’ operations in Delhi. He pointed out that Delhi is a unique capital city where residents often commute to neighbouring regions for work, a phenomenon not commonly seen in other global cities.