Earning the keys to one’s own home is a notable aspiration and treasured dream for all, yet financial barriers often cloud this aspiration. Traditional financial avenues, such as home loans, are common; however, the Delhi Development Authority’s (DDA) new housing scheme proposes a more accessible path to owning a affordable home in the capital at subsidized rates.
Continue reading to know more about the Delhi Development Authority Housing Scheme under which you can own a flat in the national capital, which presents a golden chance for mid and low-income families to secure property in the bustling metropolis for as little as INR 10 lakhs.
What is the DDA Housing Scheme?
Inaugurated in 1957, the DDA is dedicated to the planned development of Delhi. Responding to the escalating need for housing, it has unveiled various initiatives allowing individuals to achieve homeownership affordably.
DDA Housing Scheme 2024
Under the latest DDA Housing Scheme, approximately 30,592 apartments are available. Registration for these flats opened on November 30, 2023, and will continue until March 31, 2024.
The current offering is part of the Diwali Special Housing Scheme 2023, viewable at DDA’s official website. Under this scheme, DDA is offering newly constructed flats on a first-come, first-serve basis in localities such as Dwarka, Loknayakpuram, and Narela.
The first phase commenced on December 11, 2023. Allotment of these flats is conducted entirely online, meaning that the only in-person visit required is for taking possession of your flat.
Eligibility Criteria for the Latest DDA Housing Scheme
To apply for the DDA Housing Scheme 2024, individuals must fulfil the following criteria:
|Must be 18 years or above on the application’s deadline with the legal capacity to enter a contract.
|No restrictions on owning property (land or built-up) in Delhi.
|The family income of the applicant, along with the joint/co-applicant, should not exceed Rs. 10 Lakh per annum. In case of joint/co-applicant, the family income for both families considered separately should not exceed Rs. 10 Lakh. No income criterion for other categories.
|Savings Account Details
|Details of the applicant’s savings account must be provided in the application.
|Permanent Account Number (PAN)
|Mandatory and must be mentioned in the application.
|Persons with Disabilities (PWD) – Joint Applications
|In joint applications under the Persons with Disabilities category, the primary applicant must qualify for the reservation. Co-applicants should be immediate family members, defined to include parents, blood relatives, spouse, or dependents.
How to Apply for the DDA Housing Scheme 2024
To participate in the DDA Housing Scheme 2024, follow this streamlined application process:
- Visit the official DDA website at www.dda.gov.in or https://eservices.dda.org.in. Create an account using your PAN and other identification details, then log in.
- Register for the Diwali Special Housing Scheme 2023 (FCFS) by remitting a non-refundable fee of Rs. 2,500/- (GST inclusive). Registration commences on November 24, 2023. Note: Previous FCFS Phase IV registrants do not need to reapply.
- Explore available flats’ details, such as size, location, and layout, online.
- Apply online and select a flat on a ‘First Come First Serve’ basis. You have 15 minutes to secure the flat by submitting the booking amount online. Ensure sufficient funds and transaction limits are in place.
- Upon successful payment, the flat is reserved, and you receive a Demand-cum-Allotment letter within 24 hours.
Payment and Booking Details
- On receiving the allotment letter the full payment of the flat is due within 60 days.
- Disabled individuals can opt for hire purchase or make an initial 25% payment within 60 days, followed by 15-year instalments.
- The scheme also provides a 30 day grace period at an 11% p.a interest rate.
- Failure to pay within the specified time results in cancellation of the allotted flat and forfeiture of the booking amount.
Essential Documents for Acquiring DDA Flats
Upon the allocation of flats and before taking possession through the Delhi Development Authority (DDA) Housing Scheme 2024, allottees must furnish the following documents exclusively via online submission:
- Legal Affidavits: Allottees (including co-allottees, if any) are required to upload an affidavit confirming their citizenship and legal adult status. They must also provide an undertaking to refrain from making unauthorised modifications to the property, with the exception of merging adjacent units, and to participate in forming a Resident Welfare Association.
- Proof of Identity and Address: A self-attested copy of any government-issued photo identification—such as a passport, Aadhaar card, voter identification, or driver’s licence—is necessary. Similarly, one must submit address verification showcasing the identical location as registered in the application, which could include utility bills, tax receipts, or the pertinent page of a bank passbook.
- Financial Documentation: Furnish a self-attested copy of the PAN Card for the allottee and their spouse, if applicable. Where relevant, include an attested copy of the loan sanction letter and a bank statement evidencing the deposit of the requisite funds to the DDA.
- Special Category Documents: Applicants under the EWS (Economically Weaker Section) must submit a family income certificate. For the PwD (Persons with Disabilities) reserved category, a government-issued disability certificate and, when applicable, a guardianship certificate are required.
- Taxation Records: If applicable, provide a copy of the TDS (Tax Deducted at Source) Certificate.
Adherence to this checklist will streamline the transition to your new home under the DDA scheme.
Exploring the Advantages of DDA Housing Scheme Flats
Owning a DDA Housing Scheme flat offers compelling advantages:
- Subsidised Interest Rates:
- EWS/LIG beneficiaries enjoy a 6.5% interest subsidy.
- MIG 1 category receives a 4% reduction.
- MIG 2 category benefits from a 3% subsidy.
- Financial Support:
- EWS applicants may receive up to Rs. 1.5 lakhs for construction or enhancement projects.
- Subsidy effects are sustained for up to 20 years, credited directly to the beneficiary’s loan account.
- Housing Allocation:
- EWS: Up to 30 sqm coverage.
- LIG: Up to 60 sqm.
- MIG 1: Up to 100 sqm.
- MIG 2: Up to 200 sqm.
Additionally, DDA flats often boast prime locations, broad roads, and abundant green spaces. The adherence to stringent planning and construction standards ensures a high-quality living environment.
Cons of DDA Housing Scheme
- Limited Availability: DDA Housing Schemes often have a limited number of flats available. The demand can be high, making it competitive for applicants to secure a flat.
- Lottery System: The allocation of flats in DDA schemes is often done through a lottery system. While this is a fair way to distribute the flats, it means that there is no guarantee of getting a flat even if you meet the eligibility criteria.
- Location Constraints: The location of DDA flats may not always be in prime areas. Some schemes may have flats in less developed or remote locations, which may not be ideal for everyone.
- Strict Eligibility Criteria: The eligibility criteria set by DDA may be strict, and some individuals may not qualify for the scheme, limiting access to certain groups.
Financing Options for DDA Housing Scheme 2024
The allottee can obtain a housing loan by mortgaging the flat without DDA’s prior approval, with the first lien belonging to DDA for recovering outstanding dues. The mortgaged institution must notify the concerned Housing Branch, DDA, New Delhi. Eligible institutions include government bodies, PSUs, nationalized banks, insurance corporations, housing finance entities, cooperative banks, municipal bodies, recognized universities, approved organizations, and reputable financial institutions with a minimum capital base. Public companies with a capital base of Rs. 5 Crores are also eligible if they offer a housing building advance scheme to their employees. You can also avail a home loan to help you finance your home. The advantages of availing a home loan include various tax benefits, longer repayment periods, easy EMI instalments and balance transfer facility. For more understanding on availing home loans refer to our updated guide on home loans in 2024.
What is the Delhi Development Authority (DDA) Housing Scheme 2024?
Under the latest housing scheme DDA is allotting 30,592 apartments with modern amenities in locations such as Dwarka, Narela and Loknayakpuram.
How can I apply for the latest DDA Housing Scheme?
Under the DDA housing scheme 2024 the flats are available for allotment on a first come first serve basis. The details about the application procedure and steps can be found on the official website.
Can DDA flats be sold, and are there any restrictions on property ownership?
The DDA has removed the lock-in period of 5 years before selling the flats, however the procedure of selling flats under DDA requires a few extra steps.
Can a person own two DDA flats in Delhi?
According to the latest amendment the DDA has removed the restrictions on existing homeowners applying for a second home either in their name or in the name of their family members.
What is the future plan of the DDA, specifically regarding housing development?
According to the Master Plan 2041 approved by DDA the focus lies on developing Delhi as a future ready city with focus on environmental sustainability, green economy and providing affordable and quality housing in the national capital.