DDA Aawasiya Yojana 2017 Forfeiture Clause Removed

DDA Aawasiya Yojana 2017
New Housing Scheme

After receiving a poor response of its DDA Aawasiya Yojana 2017, DDA has removed the forfeiture clause to attract the buyers. Besides, Delhi Development Authority has also extended the last date of application form submission from 11 August to 11 September 2017.

According to the new clause, if a buyer surrenders his houses within 15 days of allotment of the demand letter. If the houses are surrendered 15 days after the allotment of the letter. In this case, 10 per cent of the registration amount will be forfeited.

Read More: How to Apply DDA Housing Scheme 2017 

Interested applicants have one more chance to apply for DDA Aawasiya Yojana 2017. Now applicants can now get loans only after August 25. Now banks need 15 days more to make changes in their loan schemes as DDA has modified its forfeiture clause. Till 8th August DDA has received only 8000 application while 75000 applications have been sold.

The applicants need to pay only Rs. 1 lakh for LIG houses while Rs. 2 lakh for MIG/HIG houses as an application money.

What is Change in New Clause?

  • No penalty, if the house is returned within 15 days of allotment of the demand letter.
  • 10% penalty, if the house is returned after the 16th day and before the 30th day of allotment of the demand letter.
  • 50% penalty, if the house is returned between the 31st and 90th day after the allotment of the demand letter.
  • The full amount will be forfeited after 90 days of allotment of the demand letter.

News Source: http://www.dnaindia.com/delhi/report-dda-hsg-scheme-loans-to-be-available-after-aug-25-2527486

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