Housing scheme by DDA is delayed by six months.
Latest housing scheme by the Delhi Development Authority (DDA)’s with about 3,000 flats on offer will be postponed by at least six months due to the unfinished construction of flats as well as ongoing elections. The housing scheme was announced after a hault of four years and was likely to roll out last month.
For its attractive pricing, the project is being watched keenly. As compared to flats sold by private developers, DDA flats are usually about 25-30 per cent cheaper. As flats are not yet ready, and The Lok Sabha election was another reason for the agency to postpone the announcement date. Urban development ministry’s senior official confirmed about the development and said the process would resume after May.
In 2010 the last scheme was announced when 15,000 flats were on offer. As per initial estimation about 1,000-3,000 flats across Delhi, largely in the areas of Rohini, Narela and Dwarka, would come for sale in the new housing scheme this year. Through a draw of lots, a winner is chosen.
A buzz has been generated by the new scheme among non-resident Indians (NRIs) as well, majorly from those based in the US and South Africa. A senior DDA official had said, for buying DDA flats, there is huge interest among NRIs because of its location, quality and price compared to other private developers.
Previously, DDA used to launch housing schemes more frequently, at least every two to three years. On the other hand, the agency has often failed to deliver the flats on time. In addition DDA has been not able to get hold of any land over the last 10 years, due to which it has formulated a land pooling policy, under the Delhi Master Plan 2021.
As per the policy pooling can be done between landowners and DDA for development. But in place of reward, the owners will get 48-60 per cent of the land back after infrastructure has been set up by the authority. The owners will then be allowed to build on the land themselves or give it to private developers.
Source: Business Standard
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