DDA to Increase Registration Amount upto Rs. 5 Lakh for Its Housing Scheme 2016

DDA-Scheme-2016

Delhi Development Authority is all set to launch its next Housing Scheme 2016 very soon. In this new housing scheme, DDA will offer 11,000 residential flats. This time, the applicants will have need to arrange Rs. 5 lakh to just apply for the housing scheme. Besides this, it is also going to increase the registration amount for applying.

According to the officials, there will be two slabs of the registration fee for applying. Under the registration fee for a Lower Income Group (LIG) flat will be Rs. 1.5 lakh, while the registration fee for Middle Income Group (MIG) and Higher Income Group (HIG) flats would be Rs. 5 lakh, a five-fold increase from the usual registration fee charged by the DDA as a security deposit.

In its last housing scheme, DDA had offered 25,034 flats with a registration amount of Rs. 1 Lakh. As a response, about 10 lakh applications were received by DDA. But after the successful allotment, more than 8,500 flats were surrendered by the allottees. This happened due to the small size of flats and the location was far away from nearby areas. But DDA has decided to include these surrendered flats in its next housing scheme 2016.

A senior official said that when booking a flat by private developers, buyers are required to deposit a substantial amount as down payment. That is why the DDA is also planning to hike the registration fee. And he also said with the cost of MIG and HIG flats being upwards of Rs. 50 lakh, we are going to keep the registration fee at 10 percent of that amount.

“This move will mean that only genuine applicants apply for flats offered in the housing scheme. Also, we encourage applicants to check the flats physically before applying rather than surrendering them after allotment,” he said.

“The registration fee for LIG flats will not be hiked a lot, so it remains within the reach of most people applying for the scheme,” he said.

Now DDA is going to offer a large bulk of housing units of LIG flats and the registration is refundable. The people have to face many problems to arrange a large amount of cash and rather choose to get a home loan from banks.

In its previous housing scheme 2014, the registration fee was Rs. 1 lakh, most banks had financed the amount for applicants for a charge of average Rs. 5,000. However, if the registration fee goes up, the charges will also be increased proportionately and could go up to Rs. 25,000.

News Source: http://www.thehindu.com/

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