Delhi Master Plan 2041 a likely $100 billion opportunity
Delhi Master Plan 2041, which is still awaiting the final government clearance, is anticipated to generate economic opportunities totalling $100 billion in the next two decades, as per an analysis by a think tank.
The Delhi Master Plan is expected to unlock real estate opportunities in 165 Delhi villages, potentially raising Delhi's per capita income to ₹4 lakh, as per the analysis by think tank Delhi Consortium. This represents a 47% increase from the ₹2.72 lakh per capita income reported in the 2022-23 Economic Survey of Delhi.
«There is an urgent need for approval of Delhi Master Plan 2041, as the Delhi Land Reforms Act 1954 is the biggest impediment to the planned development of Delhi.
The discretionary use of it (the 1954 law) by the administrative officers of the revenue department doesn't build confidence among the stakeholders,» said the think tank's founder-director Ramesh Menon.
According to experts, the delay in giving approval to the master plan has led to the mushrooming of illegal farmhouses in Delhi, as the Green Development Area Policy by the Delhi Development Authority was expected to regularise these properties.
«The government should expedite the notification of MPD 2041. In the interim, municipal corporations should strictly halt any unlawful construction or deviation from zonal plans.
