Ruchi Vihar, Rangpuri,
Vasant Kunj, New Delhi – 110070
A brief on
scope of investment/development
Ruchi Vihar
Housing Welfare Society spanning across 50 hectares (122 acres) is a declared “Residential
zone” area with a
potential for investment and development starting from the scratch. It is the
only piece of land its size (single chunk) in New Delhi, which is left to be
developed and urbanized. Situated in the affluent part of capital city (South -
Delhi), Ruchi Vihar is surrounded by West-end green (West), IGI Airport
(south), Vasant Kunj (north) & Ridge (east). The entrance to the said land
parcel is from Ryan International School and Block E-2 of Vasant Kunj (north).
A second entrance to the society would be through a proposed bypass/urban
relief road that would have one end at Ryan International School, Vasant Kunj
& the other into an underpass (tunnel) at National Highway – 8, towards the
airport. (ref. maps attached).
Ruchi Vihar is
registered under the “Societies Registration ACT XXI of 1860, bearing
registration number: and is also awarded a circle rate of Rs 58400 per sq mt. which is to be
implemented through a notification by the GNCTD (Delhi Government).
Construction work in the area would also begin post the said notification. The
area has been declared as a “Residential Zone” in the Master Plan Delhi, 2021.
The planning
and development work would fall within the purview of “Notification” vide The
Gazette of India, published by the “Ministry of
Urban Development (Delhi Division) on 5th September, 2013
Notwithstanding
department/government efforts, the land is available for investment, in masses
ranging between one thousand square yards and four thousand five hundred square
yards (with fencing/boundary wall) at market value, which is below the circle
rate. It can be obtained directly from recorded owners /owner as per government
record and can be retained to be sold/re-invested/developed over the period of
time. The ownership is transferred by way of “Assignment deed” on payment of 3%
stamp duty over the book value of the land, to the government.
The primary
investor could benefit through:
1) Outright re-selling to prospective buyers e.g. builders,
colonizers, investors etc.
2) Joint ventures with builders, colonizers etc for planning, construction
& sale, post value-addition.
Ruchi Vihar, is
proposed to be developed like a township consisting residential, commercial,
recreational, public, semi-public & utility areas. Development of the Mahipalpur-NH.8
bypass, through Ruchi Vihar, is being undertaken by the government of Delhi,
for which groundwork has already begun in consent with Ruchi Vihar Housing
Welfare Society.and is also awarded a circle rate of Rs 58400 per sq mt which is to be
implemented through a notification by the GNCTD (Delhi Government).
Construction work in the area would also begin post the said notification. The
area has been declared as a “Residential Zone” in the Master Plan Delhi, 2021.
The planning
and development work would fall within the purview of “Notification” vide The
Gazette of India, published by the “Ministry of
Urban Development
Notwithstanding
department/government efforts, the land is available for investment, in masses
ranging between one thousand square yards and four thousand five hundred square
yards (with fencing/boundary wall) at market value, which is below the circle
rate. It can be obtained directly from recorded owners /owner as per government
record and can be retained to be sold/re-invested/developed over the period of
time. The ownership is transferred by way of “Assignment deed” on payment of 3%
stamp duty over the book value of the land, to the government.
The primary
investor could benefit through:
1) Outright re-selling to prospective buyers e.g. builders,
colonizers, investors etc.
2) Joint ventures with builders, colonizers etc for planning, construction
& sale, post value-addition.
Ruchi Vihar, is
proposed to be developed like a township consisting residential, commercial,
recreational, public, semi-public & utility areas. Development of the Mahipalpur-NH.8
bypass, through Ruchi Vihar, is being undertaken by the government of Delhi,
for which groundwork has already begun in consent with Ruchi Vihar Housing
Welfare Society.
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