DDA allotted flats cannot be sold for 5 years
People can be disappointed if they are looking forth to the Delhi Development Authority (DDA) upcoming housing plan 2014 as the investment opportunity is not good. The DDA is making plans to introduce a clause that states that the people who will be allotted flats would be given the possession of the flat only after five years of possession. Therefore the properties cannot be sold off before five years.
About the Delhiites, DDA’s housing schemes are that the only opportunity of getting a house in the Capital at affordable rates as the agency builds the flats at a ‘no profit no loss’ basis. The schemes however many attract those who invest in the flats and sell them at the market rates many times in between the days of getting possession.
The DDA is taking strict precaution to discourage any speculative investment in all of those flats. The people who will get the flats will be handed over the conveyance deeds only after they stay there after five years. The aforesaid was stated by DDA vice-chariman Balvinder Kumar to Hindustan Times. For now the people will be given a certificate of allotment so that they get home loans.
Source: Hindustan Times
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