Banks Ready for Loan DDA Housing Scheme 2017

DDA New Housing Scheme 2017

After receiving the bad result of DDA Housing Scheme 2017, DDA has become active make this scheme successful. Recently, DDA has conducted a meeting with the authorzed bank to provide the loan. After completion the meeting, DDA has decided to provide bank loan to the applicants to pay application amount. This facility will be started within few days.

Under DDA Housing Scheme 2017, DDA has printed 5 lakh application forms but DDA has sold only 50,000 application forms after 25 days of the launch of DDA Housing Scheme 2017. The last date of application form submission is 11 August 2017 and it is imposable to sell 4.5 lakh forms in the remaining 18 days.

However, the scheme is also linked with Central government scheme Pradhan Mantri Awas Yojana (PMAY). The applicants will be able to take the benefit of this scheme. In this scheme, the applicants will have to deposit Rs. 1lakh application amount for LIG and Janta flats while Rs. 2 lakh for MIG and HIG flats.

This time, DDA has included some new rules to prevent from non-serious buyers. If a prospective buyer withdraws the application before the withdrawal date and before issuing the demand letter, then 25 percent of its registration fee will be seized. Similarly, if the demand letter is issued but within 90 days the flat is returned than 50 percent of the fee will be seized and 91 to 180 days after the full registration fee will be seized.

In this case, the banks are not ready to provide the loan to pay application amount because their loan amount may be stuck with any negligence of the allotment. After the meeting with DDA department, the banks are ready to provide the loan but banks will not provide 100 percent loan, it will be 50 to 70 percent. This loan facility will be started very soon.

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all update for DDA housing scheme 2017

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