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Owning a home is a significant milestone for many, but financial constraints often make this dream seem distant. Traditional home loans are common, but the Delhi Development Authority (DDA) offers an alternative. Their latest housing scheme provides affordable homes in Delhi at subsidized rates.
Learn how the Delhi Development Authority Housing Scheme makes it possible to own a flat in Delhi. With options starting as low as INR 10 lakhs, this initiative helps mid and low-income families secure their spot in the heart of the city.
What is the DDA Housing Scheme?
Inaugurated in 1957, The Delhi Development Authority (DDA) Housing Scheme is an initiative launched by the DDA to provide affordable housing to different income groups in Delhi. The scheme is known for offering flats at competitive prices through a lottery system, making it easier for many people to own a home in the capital city.
DDA Housing Scheme 2024
The Delhi Development Authority (DDA) has unveiled the Phase III Festival special housing scheme 2024, a pioneering initiative to provide affordable housing through a streamlined, completely online process. The scheme commenced on March 14th and is based on a first-come, first-served model, ensuring transparency and ease of access for applicants.
Key Features of the Scheme
- Property Status: All flats offered are ready-to-move-in and are designated as freehold properties.
- Locations: The flats are distributed across various regions including Narela, Jasola, Rohini, Siraspur, and Loknayakpuram, catering to a broad segment of the city’s population.
Flats and Pricing Details
| Income Group | Location | No. of Flats | Price |
|---|---|---|---|
| HIG | Jasola | 8 | Rs. 2.08 Cr. – Rs. 2.18 Cr. |
| LIG | Rohini | 838 | Rs. 14.1 lakhs – Rs. 14.24 lakhs |
| LIG | Siraspur | 107 | Rs. 17.4 lakhs – Rs. 17.19 lakhs |
| LIG | Loknayakpuram | 29 | Rs. 27 lakhs – Rs. 28.5 lakhs |
Special Offers on DDA 2024 Scheme
DDA also offers notable discounts for certain categories. For instance:
- 15% discount is available for LIG flats at Ramgarh Colony.
- 25% discount is offered to government employees for MIG flats in Narela.
Here’s the list of flats for Phase III e-Auction
Eligibility Criteria for the Latest DDA Housing Scheme
To apply for the DDA Housing Scheme 2024, individuals must fulfil the following criteria:
| Eligibility Criteria | Details |
|---|---|
| Nationality | Indian citizen |
| Age | Must be 18 years or above on the application’s deadline with the legal capacity to enter a contract. |
| Property Ownership | The applicant must not own any property (residential plot or flat) in a. full or b. part on leasehold or c. freehold basis in Delhi, New Delhi, or Delhi Cantonment. |
| Income Criteria | 1. The annual household income of applicants for EWS flats should not exceed Rs. 10 lakh per annum. 2. No income criterion for other categories. |
| Savings Account Details | Applicant must have an active bank account number |
| Permanent Account Number (PAN) | Applicant needs to possess PAN Card |
| 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. |
Make Your Home Ownership Dream Come True With DDA Housing Schemes!
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 website of Delhi Development Authority (DDA).
- Sign Up using your PAN Card and other required details.
- Login using the same credentials and register yourself for the scheme.
- Browse available flats, including size, location, and layout, online.
- During registration, you must pay a non-refundable fee of Rs. 1180 (including GST) online.
- Apply online and choose a flat on a ‘First Come First Serve’ basis; you have 15 minutes to secure the flat by submitting the booking amount online.
- After successful payment, the flat is reserved for you, and a Demand-cum-Allotment letter is issued within 24 hours.
Payment and Booking Details
1. Interest-Free Payment Period
- Once you receive your demand-cum-allotment letter, you have a 60-day period to pay for your flat without incurring any interest.
- This 60-day period starts on the day the letter is issued.
2. Extended Payment Period with Interest
- If you need more time beyond the initial 60 days, you can take an additional 30 days to make the payment.
- However, during this extended period, an interest rate of 11% per annum will apply to the outstanding amount.
3. Risk of Forfeiture
- If the total cost of the flat, including any accrued interest, is not paid within 90 days from the issuance of the demand-cum-allotment letter, the entire amount you’ve paid so far will be forfeited
Essential Documents for Acquiring DDA Flats
1. Legal Affidavits:
- Citizenship and Adult Status: Allottees (including co-allottees, if any) must upload an affidavit confirming their citizenship and that they are of legal age.
- Property Modifications: Provide an undertaking to refrain from making unauthorized modifications to the property, except for merging adjacent units.
- Resident Welfare Association: Commit to participate in forming a Resident Welfare Association.
2. Proof of Identity and Address:
- Identity Verification: Submit a self-attested copy of a government-issued photo ID (e.g., passport, Aadhaar card, voter ID, or driver’s license).
- Address Verification: Provide proof of address showing the same location as registered in the application, such as utility bills, tax receipts, or a bank passbook page.
3. Financial Documentation:
- PAN Card: Furnish a self-attested copy of the PAN Card for the allottee and their spouse, if applicable.
- Loan and Bank Statements: Include an attested copy of the loan sanction letter and a bank statement proving the deposit of required funds to the DDA.
4. Special Category Documents:
- EWS Applicants: Submit a family income certificate.
- PwD Category: Provide a government-issued disability certificate and, if applicable, a guardianship certificate.
5. Taxation Records
- TDS Certificate: 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.
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.
Disadvantages of DDA Housing Scheme
| Factor | Description |
|---|---|
| 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
Allottees can secure a housing loan by mortgaging the flat without needing prior approval from DDA. The first lien belongs to DDA to cover any outstanding dues. The lending institution must inform the Housing Branch, DDA, New Delhi. Eligible lenders include:
- Government bodies
- PSUs
- Nationalized banks
- Insurance corporations
- Housing finance entities
- Cooperative banks
- Municipal bodies
- Recognized universities
- Approved organizations
- Reputable financial institutions with a minimum capital base
- Public companies with a capital base of Rs. 5 Crores that offer housing building advances to employees
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Conclusion
The DDA Housing Scheme 2024 offers an exceptional opportunity to own a home in Delhi at a subsidised rate, making it more accessible for various income groups. By taking advantage of this scheme, you can find a property that fits your budget and needs without compromising on location or amenities.
If you’re looking to finance your new home under the DDA Scheme, consider exploring home loan options with Credit Dharma. At Credit Dharma, we offer competitive home loan rates, flexible repayment options, and comprehensive support throughout the loan process.
Frequently Asked Questions
Yes, the Delhi Development Authority (DDA) is under the Government of India. It operates under the Ministry of Housing and Urban Affairs, which is responsible for overseeing its activities and policies.
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.
Yes, a person can now own two DDA flats in Delhi. Recent amendments to the Delhi Development Authority (DDA) regulations have removed the restriction that prevented existing homeowners from purchasing additional DDA flats.
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.
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