Several builders in Okhla said they are feeling the heat after a new farman (order) issued by local administration stopping construction work or building a new floor (lintal).
Following the new order, work has been stopped, said a builder, adding that this was not needed as building sector is the lifeline of Jamia Nagar. It is not known how big is the realty sector in Okhla but it being a Muslim dominated locality new flats are in high demand in the locality with many foreign buyers.
It has been noticed that despite flat rates going down in many parts of the country, in Okhla flats continue to be sold at high price with little impact, said a person, involved in the realtor sector. Over the years, Jamia Nagar has seen huge growth in flat business with builders turning every open space in Abul Fazal Enclave into flats at times in cooperation with the owner or purchasing it. Moreover, open land price has skyrocketed in the locality.
It is not known how long the order of banning construction will stay but residents said this is not new. Many attribute the ban to MCD polls that is to be held on April 23 in Delhi, a claim that this portal was unable to authenticate.