DDA stands for Delhi Development Authority. This body is mainly involved in finding out the buying power and the needs of the residents of the National Capital. Based on this analysis DDA Housing Authority develops homes based on the needs of the people of different sections of the society. DDA was established in the year 1957. From the time of its inception till date they have provided homes to several people of Delhi and that too at cost effective rates. They have obtained 67,354.88 acres of land in Delhi. They have developed 59,504 acres of land and have announced a number of registration schemes.
The latest scheme announced by DDA received extension:
In the year 2017 the DDA announced a housing scheme which would provide 12,000 residential DDA flats in Delhi. Anyone above the age of 18 years could apply for the flats. The last day to receive the application was 11th August 2017 but it was extended by one month. The main reason for this was that sufficient numbers of applications were not received till the deadline. The application process was for 12,072 flats, but till the deadline only 8000 applications had been received. This was very shocking for the DDA and they had no other option but to increase the deadline for getting the applications.
Analysing the reasons for the poor response to the DDA housing scheme:
One of the main reasons for the poor response was that forfeiture clause had been added to the registration money. Due to this banks were not willing to give loans. As a result, many people were not able to apply for this Delhi property by DDA. But later the authority relaxed this clause which made it easier for the people to get loans from banks. Basically the authority had added the forfeiture clause because they wanted to get applications from only serious buyers. As per this clause if a buyer cancelled the registration after he was given a house in the draw, then he would have to pay a penalty for the same. The penalty amount was set in the range of 25 to 100%. A penalty of 25 to 50 % was to be imposed if the registration was withdrawn after 90 days of announcement of allotment. 100% penalty was imposed if the cancellation was done between 91 to 180 days.
Since the scheme got a poor response the DDA had to relax the penalty. If the cancellation was within15 days of allotment then there was no penalty. If the cancellation was in the next 15 days then there was a 10% penalty. 50% penalty was imposed if the cancellation was within 90 days
One needs to note that the flat prices are in different range and one was given the opportunity to apply for the draw based on one’s needs and budget. One could get the Janta flats in the range of 7.07 lakh and 12.76 lakh and the LIG flats in the range of 14.50 lakh and 30.30 lakh. There were also other higher range flats available under this scheme.
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