16 January 2017

Government approves land for the second Diplomatic Enclave in Dwarka, Delhi

News

The Union Cabinet recently approved a proposal to transfer the land at Dwarka to the Land and Development Office (L&DO) for the development of the second Diplomatic Enclave in Delhi. There is a Diplomatic Area in South Delhi’s Chanakyapuri area covering more than 300 hectares of land but as additional land was not available in the Chanakyapuri area, the Delhi Development Authority (DDA) earmarked land at Dwarka. 

 Area allotted                
 34.87 Hectares
 Location
 Sector 24, Dwarka
 Number of plots           
 42 
 Size
 1,500 and 2000 square meter 

All necessary infrastructure like roads, electricity, open spaces, water, and sewerage network for future development has already been laid in the said area at Dwarka.

Research view

The BJP government has adopted an active front to improve and cultivate diplomatic relationships with several countries across the globe. In the last few months, India has worked towards amendment of their taxation system with Mauritius, Singapore, Cyprus, Kazakhstan, Switzerland, Portugal, and Tajikistan. Countries such as Japan, France, US, and Germany have also extended their support and are planning to assist India with the development of at least 15 smart cities across the country. Hence, we believe that the approval of second enclave is in tune with the current political initiatives and it will help in promoting foreign relations.

This announcement should also boost the sentiments in the emerging residential hub ‘Dwarka Expressway’ that is in the close proximity to the second diplomatic enclave. In our opinion, any capital value appreciation is unlikely in the short term as lack of connectivity and social infrastructure on Dwarka Expressway is still a concern for buyers. However, recent Government initiatives such as National Highway status to Dwarka Expressway, likely completion of the Railway Over Bridge in Q1 2017 and the demolition of more than 200 unauthorized structures to pave the way for construction of Master Plan roads in Sectors 81-86 should augur well along with the recent developments regarding diplomatic enclave. 



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