New clauses included in DDA’s housing scheme
The Delhi Development Authority’s 2014 housing scheme will be tabled in DDA’s meeting, chaired by Lt-Governor Najeeb Jung, for clearance on Thursday. Several new clauses have been included in the scheme, which will be the biggest housing scheme to be launched by the DDA in the capital. If the scheme is approved, sale of brochures will be announced soon after.
The scheme includes new conditions such as reservation of 80 percent flats for residents of Delhi. The step to keep aside 80 percent of the housing units for Delhi residents is required to address the housing crunch being faced in the city at present. Otherwise, the gap between demand and supply as far as housing is concerned will keep increasing as stated by an official said.
Moreover, to prevent people from participating in the scheme for a purely speculative purpose, the DDA is looking to introduce another new clause in the agreement, under which the registration of the flats will take place after five years. The scheme will be tabled in the DDA meeting and will be announced if it gets the required clearance as stated by DDA vice-chairman Balvinder Kumar.
Source: The Financial Express
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