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Sunday, August 31, 2014

Review: DDA Housing Scheme 2014 & Final Results


Introduction


Looking forward to buy a flat/house in Delhi? For most of the Delhites , one of the biggest dreams in their lives is to own a flat in national capital at an affordable price. As we know, after Mumbai, Delhi is one of the most expensive real-estate market of India. The property index of Delhi had been increasing exponentially and for a middle class person – buying a flat/house using black-market is crazy expensive. The only on scheme every Delhi citizen wait every couple of years is for the Delhi Development Authority (DDA)  housing scheme where you get a flat a fraction of price and every bank willing to mortgage it as it is considered to be a gateway to prosperity. This year DDA is launching its much awaited scheme of 25,034 flats and we shall give you a crystal review of this scheme and process of enrolment.




https://docs.google.com/file/d/0Bxp9guUL2zR9Rm9xWko0bUQ3b3M/edit
DDA Housing Scheme 2014

Getting to know about DDA 2014 housing scheme
Under the DDA 2014 housing scheme, which has 25,034 flats are on offer starting today, 1st Sep till Oct 9, 2014. An important note, unlike its previous schemes, forms will not be available at Vikas Sadan this time and will neither be accepted at the DDA headquarters.


Quality & Build
DDA flats are known for their under quality, however this time around, special focus had been laid to quality standard while they were being built. Most of the flats comes will well planned layout both internally and externally. Now let’s analyze the numbers and probability of getting a flat.

The largest mass of the flats — 22,627 out of total 25,034 — are one bedroom units with a drawing room, kitchen and bathroom and located mostly in Rohini, Narela and Dwarka.

The price ranges are as follows:
a)    Rs. 14-22 lakh for the one bedroom flats,
b)    Rs. 41-69 lakh for two bedroom flats
c)    Rs. 69 lakh to Rs. 1.2 crore for three bedroom flats
d)    About 700 flats for the Economically Weaker Sections that are priced at Rs. 5.87 lakh to Rs. 9.9 lakh.


There is a locking period introduced this year to remove any middlemen – the locking period is for 5 years and hence this time we would expect only genuine buyers applying.

Flats & Demographics: While majority of flats are located in Rohini, Narela and Dwarka,  many flats are also located in Jasola, Vasant Kunj, Kalyan Vihar, Motia Khan and Mukherjee Nagar


Applying for DDA Housing Scheme 2014
a)    The scheme will be open till October 9. Any Indian citizen, who doesn’t own a property in Delhi individually or jointly, is allowed to apply for a flat.

b)    The application form has been kept simple this time and applicants don’t need to provide any documents along with it. However, it is mandatory for applicants to provide their PAN details.

c)    The application forms can be downloaded from: (due to heavy traffic, some of the links may not work) :
          http://dda.org.in/ddanew/Hosing_Scheme2014.aspx
          https://www.payumoney.com/dda/#/kotak         
          https://easypay.axisbank.co.in/index.php/dda1.html


You can also download the free copy of DDA Housing Scheme 2014 Brochure/form from our shared-drive:
https://drive.google.com/file/d/0Bxp9guUL2zR9Rm9xWko0bUQ3b3M

d)  Application fee of INR 100,000 with copy of form and PAN card details to be submitted

e)    Additional fee of INR150 for brochure need to be submitted with above mentioned application fees

f)     Most of the nationalized banks are opening special counters to fund loan for application fees and kindly check with your nearest branch today

g)    The last date for submission is 9th Oct, 2014

h)    The draw of lots for the scheme is expected to be held between on 25th November 2014 and DDA promises to hand over all flats by March 2015

i)      The draw will be held by the Centre for Development of Advanced Computing (C-DAC), which had held the draw for DDA’s 2010 housing scheme too

j)      For unsuccessful applicants, the money will be refunded back in 90 days from draw result’s date


General Observations and Feedback

DDA Housing scheme is one of the most awaited schemes in India, and as alluded earlier is one of the cheapest and easiest way to own a flat in Delhi.



http://www.hindustantimes.com/Images/popup/2014/9/0109pg02a.jpg
DDA Scheme in Infographics - Courtesy - HT

With affordable price and easy access to mortgage options – we would expect more than half a million applicants trying their luck for getting nearer to a dream of owning a home of their own.

Quick Snapshot : Total no. of applicants - 10 Lakhs (1 million)
No. of total flats: 25,034
Ratio: 40:1 (40 applicants per flat)

For Final Result/ Lottery Draw : Click Here

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