DDA may announce its Housing Scheme 2016 around Diwali

Delhi Development Authority’s (DDA) is all set to launch its much awaited Housing Scheme 2016.  DDA will launch its scheme with around 12,000 flats on offer. It is understood that a large chunk of these flats (out of 25,039 flats for draw of lots in the Housing Scheme 2014, 10,653 flats have been surrendered or cancelled) have been surrendered or cancelled with some allottees complaining about the size of the flats and locality.  10,000 unoccupied flats are from the 2014 scheme, while 2,000 are other flats which have been lying vacant. Out of the total number of flats, most of them in Rohini, Dwarka, Narela, Vasant Kunj and Jasola,

Former DDA Vice Chairman Balvinder Kumar had in January 2015 said the “new scheme would be much larger than the 2014 project, and will include at least 24,660 LIG flats.”The DDA Housing scheme 2016 which was likely to be launched in December 2016 may be announced around Diwali, in what could be a festive bonanza for home buyers.

In the last housing scheme of DDA launched in 2014, DDA had received over 10 lakh applications, both online and offline. The DDA Housing Scheme 2014 offered 25,040 flats across categories, with prices ranging between Rs. 7 lakh and Rs. 1.2 crore. This year, Delhi Development Authority (DDA) may also make this new housing scheme 2016 a completely online affair. This will help reduce the long queues of flat aspirants at its headquarters.

The DDA’s last housing scheme in 2014 had the registration amount of Rs. 1 lakh. DDA may hike the registration amount for applying to its new housing scheme 2016. DDA wants to hike the fee to deter non-serious applicants and speculators from applying. The registration fee for a Lower Income Group (LIG) flat may be Rs. 1.5 lakh, while the registration fee for Middle Income Group (MIG) and Higher Income Group (HIG) flats may be Rs. 5 lakh, which is 5 times the normal registration fee charged by the DDA as a security deposit.This move will mean that only genuine applicants apply for flats offered in the housing scheme.Though the registration fee is refundable, many applicants find it difficult to arrange such a large amount of cash and rather choose to get it financed from banks, who come up with many plans during DDA’s housing schemes.

During the 2014 scheme, when the registration fee was Rs. 1 lakh, banks had financed the registration amount for applicants charging an average fee of  Rs. 5,000.  However, if the registration fee goes up, the charges will be go up accordingly to around Rs. 25,000.

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