DMRC to pay annual rent to DDA

DMRC to pay annual rent to DDA
09/06/2016 , by , in ALLIED

The urban development ministry has directed Delhi Development Authority (DDA) to charge land rent of One rupee per annum from Delhi Metro Rail Corporation (DMRC). This rate will be applicable for 99 years’ lease.

DDA had been raising higher rent demand since land under its possession is governed under Nazul norms (rules dealing with government land in Delhi). In its land allotment letter, DDA had mentioned that the corporation needed to pay 2.5% of the land premium, which is substantial.

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