South Delhi which is a favored residential spot for most of the renowned and affluent class is witnessing a drop in property prices. The location boasts number of farmhouses and posh residential properties but the new farmhouse policy declared by the Delhi Development Authority (DDA) have led to fall in the property prices in this location.According to the norms, it was compulsory that the farmhouse should have 2.5 acre plot of land. Hence there were around 2750 farmhouses in this capital region. But according to the new farmhouse policy announced by DDA, farmhouses of 10,000 sq ft area can be legally built on a 1 acre plot. Therefore the policy would allow adding over thousand more farmhouses to the existing list. DDA may soon permit the construction of farmhouses in 26 villages. This would include the green belt regions as well as areas of South Delhi such as Chhattarpur, Asola and Satbari.The new farmhouse scheme is likely to affect the property prices in the upscale market of South Delhi. Consumers have a better option against builder floors and apartments. Even though the high-end properties in this area had issues like car parking problems, people still prefer this location as this is a posh residential address of Delhi.The property prices in majority of the localities in South Delhi have already dropped by 15 to 25% as most of the investors are shifting their focus from builder floors to farmlands. The builder floor in Defence Colony of 350 sq yard fetched Rs 10.50 to Rs 12.75 crore two years ago now the same property cost around Rs 8.25 to Rs 9 crore. In Greater Kailash 1 and 2, 300 sq yard builder floors are priced around Rs 4.5 to Rs 6 crore whereas the cost of these properties in 2009-10 was around Rs 6.5 to Rs 7 crore.The cost of the residential properties is falling in South Delhi while the farmland prices are going up. Therefore people find it’s profitable to invest in farmland.займ на карту без отказов круглосуточновзять кредит онлайн