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The DDA (Delhi Development Authority) has decided to offer 15,000 flats under a new housing scheme to residents in different locations and categories. These homes will be available in Jasola, Rohini, Narela, and Dwarka. In a recent meeting of the members of the authority, they approved the new housing scheme to be launched online. It also stated that under this scheme, they would be offering mostly unsold flats from the previous schemes.
Moreover, DDA is offering these flats at the old cost or rates, with a good deal of relaxation. DDA updates its costing strategy every year. This is mainly based on the average property price appreciation or depreciation. In this case as well the authorities have considered the building depreciation cost.
Particularly at Narela, the apartments are being offered after improving the infrastructure significantly. The residents would also enjoy better connectivity, security, and infrastructure. These arrangements have been made based on the feedback and suggestions of the residents of allottees in the area. This would make these homes more attractive to the buyers. Moreover, people who are allotted these properties would be eligible to get a subsidy on home loan interest rates as per the PMAY scheme. However, they need to get the home loan from one of the recognized financial institutions or banks.
The overall process, right from application to allotment, and even the possession of properties would be controlled through the online portal. Once the allotment has been made, one has to visit the office of DDA to execute the CD. This is a welcome move from the government, considering the increasing demand for real estate in the city. Once the properties get sold off at the subsidized rate, the state would also benefit from the increased revenue. This would be a good opportunity for residents in Delhi to purchase their property.
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