The DDA's highest decision-making body approved the policy during a meeting chaired by Lt Governor Anil Baijal at the Raj Niwas here.
The policy now awaits the nod of the Union Ministry of Housing and Urban Affairs. It covers urbanisable areas of urban extensions at 95 villages in the city.
Under the land pooling policy, agencies will develop infrastructure like roads, schools, hospitals, community centres and stadia on part of the pooled land, and return a portion of the plot to farmers who can later execute housing projects with the help of private builders.
Sources said the authority considered the suggestions and objections offered by the public to the urban body recently. A floor-area ratio (FAR) of 400 had been requested, but the DDA decided for 200 units due to various constraints, they said.
"Considering the availability of resources and services, FAR of 200 is recommended for the development in the land pooling policy keeping in view availability of water, requirement of land for physical and social infrastructure and impact on environment," the DDA said.
Formulated with an aim to provide affordable housing in Delhi, the policy is also expected to trigger huge economic, social and civic development of the city. It is likely to "benefit lakhs of farmers" while generating immense investment opportunities, it said.
Under the policy, over five lakh of the 1.7 million houses will be built for the economically weaker sections, the housing authority said.
This will go a long way in meeting the goals of housing for all, officials said.
Last December, the DDA's highest decision-making body had approved simplification of the land pooling policy in the national capital and the DDA's role as being a "facilitator, regulator and planner only".
This effectively means that the transfer of pooled land to the DDA will not be required.
Originally, the land pooled under the policy was to be transferred to the DDA, which would act as the developer entity and undertake further sectoral planning and development of infrastructure on the land pooled.
Land owners having land of any size can participate under the land pooling policy. However, the minimum area to be taken up for development would be two hectares. A Developer Entity (DE)/ individual can participate in the scheme by pooling land parcels covered under a sector as per the Zonal Development Plan, the DDA said.
"With 200 FAR, Delhi will get 1.7 million dwelling units to house 7.6 million persons. In order to promote affordable and inclusive housing, 15 per cent FAR over and above the permissible FAR has also been allowed for EWS/affordable housing," it said
Differential land return in two categories has been replaced with uniform division of land on 60:40 basis in the modified policy, thereby benefitting small land holders or farmers.