12,000 Flats are Offered in DDA’s New Scheme by Mid June

The Delhi Development Authority (DDA) is going to roll out a new housing scheme with the offer 12,000 houses in the category Low Income Group (LIG), Middle Income Group (MIG) and High Income Group (HIG) by mid-June.

Out of 12,000 flats, there are 10,000 unoccupied LIG flats from the 2014 scheme and located in Rohini, Dwarka, Narela, Vasant Kunj and Jasola. The registration fee for LIG would be Rs 1 lakh whereas, for MIG and HIG, it would be Rs 2 lakh.

According to the officials in the DDA, the draft of the brochure will be ready to be launched after a thorough proofread. The urban body has begun the process of tying up with the banks including Axis Bank, Yes Bank, IDBI, Bank of Baroda, Central Bank, SBI, Kotak Mahindra and HDFC, ICICI Bank and Canara Bank.

With an aim to attract many unserious buyers as well, the DDA will be proposing multi-tiered penal measures. Below are some of the highlights:

  • In case a prospective buyer surrenders their application before the draw date there will be no deduction of the registration fee while returning. If surrender date surpasses the draw date but before the issue of the demand letter, 25 per cent of registration fee will be cut. If the flat is surrendered within 90 days after the issue of the demand letter, the final amount will be refunded to the buyers after deducting 50 per cent.
  • Buyers are free the areas where the flats are located before registration.
  • Lock-in period clause has been removed.
  • Husband and Wife both can apply for the scheme for two different flats in two separate application forms but one would have to give up in case both are allotted flats.

The DDA officials are ensuring a good connectivity through transport services and well-planned infrastructure before rolling out the new scheme. The application form will be available online as well as offline.

Source: ET Realty

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