The document provides information about investing in land under the Delhi Master Plan 2021. It notes that the plan allows for private investment in land for the first time, with a large increase in developable area. Investing now makes sense as land prices are bound to increase significantly due to demand outpacing supply. The document argues land is a safe investment that is not at risk of government acquisition and is more liquid than other assets. It provides answers to common questions about land investments and promotes a real estate company that specializes in advising and assisting with such investments.

1. Delhi
MasterPlan
2021
ÐΞCOÐΞÐ
Ashish Raina
An Inside guide to Investing in Land under the
Delhi Master Plan -2021
MPD –2021
ÐΞCOÐΞÐ
Corp. Office : Plot #
678, Second Floor,
Udyog Vihar, Phase V,
Gurgaon-122016
+91 – 8802 674 874
www.certesrealty.com
11/21/2013

2. Why should I care about the Delhi Master Plan – 2021 ?
What’s in it for me ?
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Opportunity to participate in the building of a city (actually 5 sub-cities) inside Delhi.
Huge paradigm shift at the policy level. No land acquisition from DDA for residential
purposes. Private players’ entry allowed now.
Enhanced FAR (400) to be applicable under the Land Pooling Policy translating into huge
returns factoring in the cheap present Land cost psf.
People who have always yearned for a Farm House of their own can finally realise their
dream now with the 1-acre Country Home policy being approved by the Ministry of Urban
Development (MoUD).
Why does investing under the MPD-2021 make sense ?
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Land in Delhi is finite. Any commodity limited in supply & huge in demand, the prices are
bound to go northwards as per the laws of economics (& we’ve witnessed that)
Great pressure on Land because of the pent up demand for dwelling units. The projected
population for Delhi for 2021 is 2.4 cr & as actual per 2011 census was 1.7 cr ( apart from the
unauthorised colonies et all ). As per DDA data, there is a shortfall of 24 lac dwelling units.
With NCR realty prices reaching astronomical prices, the valuations do not seem to make
sense because of the speculation factor. It’s beyond reach for a lot of people & it’s not Value
for Money anymore.
This is the last expansion of Delhi, after this there won’t be any Land left in Delhi.
There is no risk of acquisition by the Govt./DDA as Land Pooling policy is approved. Prudent
investing demands early entry for maximising the returns.
Delhi will always be the preferred address because of the sheer fact that it’s the capital of
the country. Highest budgets for infrastructure development are allotted to Delhi in
comparison to other NCR districts.
Delhi is governed by the Ministry of Urban Development & DDA (which reports to the
MoUD). So there is minimal role of State Govt. here.
Basic laws of investing always suggest that its prudent to enter at minimum costs so that
there is limited or no downside, so that the wealth is protected. At current valuations, where
land is available at < 500 psf going wrong is nearly impossible.
Since its Delhi Land, it’s a liquid investment. There are always ready buyers as people want
to lap it up.
Big developers have already taken huge positions under the MPD. They realise that it’ll be a
goldmine in coming years.
Go the Warren Buffet way. If the fundamentals are strong, cyclical factors are nullified in the
medium to long run. In land we do not talk in terms of ROI or IRR but in multiples of x.
People who have anytime in their lives invested in Land, would readily vouch for that.
Even in the accounting world, Land in any company’s balance sheet is the only asset which is
not subject to depreciation !

3. FAQ’s :
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Why should I invest in Land in the first place? Why not in apartments etc.?
An apartment technically is a depreciating asset, Land is not. Ask people around you who’ve
ventured into it at any point in their lives & they’ll tell you that there ain’t no asset as Land
which’ll give you an ROI beyond your calculations. Apartments can be used for the rental
yield purposes in your Real Estate portfolio. Our mantra is “Get into land at an early stage,
the value shoots up like the Mars bound spacecraft after unlocking” giving you a windfall
disproportionate multiple return.
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I’m scared of “Qabza” over my Land !
“Qabza” or Illegal possession over land is unheard of as far as agricultural land is concerned.
It’s true for “plots” & “Agency acquired land for future development purposes”. We as an
organisation know that & guarantee the upkeep & safety of your land parcel.
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What if the policy is changed or my land is acquired by the Govt. agencies ?
That’s where our knowledge on the Policy comes into play. We know exactly where & where
not to buy the land. Moreover with the Land acquisition act into play, land owner gets
handsomely compensated. It’s a gain no matter what. Being connected also helps a great
deal. We are.
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Land is an illiquid asset.
Not Delhi Land. We know the ground realities. There are people ready to lap it up. They
know it’s a goldmine in coming years. You can liquidate / exit anytime.
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The question of timing. Whether it’s the right time to invest in Land under MPD or
should I wait ?
Land as an asset class generally involves gestation. As far as markets are concerned, it’s very
difficult if not impossible to time the markets. Thankfully Land/Real estate markets are not
as volatile as the stock markets. The number of variables too are limited unlike the stock
markets which are sensitive to news in foreign markets as well. Land / Real estate being
more of a geographically localised thing, the uncontrollable variables are not too many. The
increase in the value of land can be attributed to the change in the “land use”. If we were to
value agricultural land, then one can have a mix of high yield crop & value the land on the
basis of that as it can’t be put to any other use. If the land use is suddenly changed to let’s
say “residential”, it changes the game as the new valuation will be done on the basis of
capital /rental yield now since it is allowed. MPD offers the same as illustrated in this
example. Agricultural lands have been re-classified as residential now, so prices have
increased manifold. From here onwards, demand & supply come into the equation.

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What about the political scenario ? Will the change in Govt. affect my
investment..?
Firstly, as far as land in Delhi is concerned, the state Govt. has no say in it. DDA reports to
the Ministry of Urban Development (MoUD). Yes, the change in Govt. at the centre can
affect the land policy. But having said that, the laws that have been already passed &
gazetted, eg. The one-acre country homes & land-pooling for residential zones are
impossible to be reversed now. So, the policy risk has been eliminated from your
investments.
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Shouldn’t I invest in other asset classes? Why only Land..?
We never told you to put all your eggs in one basket. We never do. By all means your
portfolio should be diversified. All we’re saying is that this opportunity is not to be missed.
One should & should invest in the MPD.
Why should I opt for Certes as a service provider ?
It’s a free market. People have choices. Nobody is bound by anything. We encourage you to explore
the terrain & decide for yourselves.
Having said that, we would like to consider some factors our strengths.
Land is a slippery subject in India & the industry is unorganised. There’s always some shades of
mystery associated with it especially people who have never ventured into it. We at Certes have
always gone about it in an organised way.
We have thoroughly “researched” the policy at the macro as well as micro level, how it translates to
practicalities on the ground & how to nullify the probable policy risk. What makes us unique is also
the strong team we have on the ground. They are the unsung heroes whose name(s) never get
published in any glossy magazines, they’re not a part of any TV shows. But they are our eyes & ears
on the ground. We are appraised of the latest transaction prices, volumes, trends & other activity
almost like a stock exchange ticker.
Certes was built on strong beliefs & foundations from those at the helm of its affairs. We have
decoded the unknown variables in Land transactions & made it almost as transparent & easy like
buying equity or mutual funds.
While the Gurgaon residential fairytale was unfolding, we never lost focus on Delhi. Having said that,
we have a sharp eye on the other constituents of NCR & we use it to leverage our know-how on the
heart of the capital of Republic of India.

5. The typical flow of our working goes something like :
Assess client requirement >→ Identify suitable Land parcels as per requirement >→ Explain to the
client the logic with the help of our resources & physical site visit >→ Actively assist the client
through the process of transaction >→ Transaction closure >→ Provide an exit strategy / Portfolio
churn
Who Should get in touch with us ?
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Developers
HNI / UHNWI / NRI
Private Bankers / Wealth Managers
Institutional Investors
Real Estate Funds

6. We welcome you to explore the world of certes & get expert
advice from us to cater to your real estate portfolio
requirements. Visit our websites to get useful information &
give us a shout for further assistance. You'll surprise yourself !
Let’s talk Land. . .
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+91 – 8802 674 874
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ashish@certesrealty.com
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Corp. Office : Plot # 678, Second Floor, Udyog Vihar, Phase V,
Gurgaon-122016
Regd. Office : 142/278, Kanjhawala – Karala Road, Kanjhawala,
Delhi-110081