Property Market News

DDA Housing Scheme 2017

On June 30, Delhi Development Authority announced its DDA Housing Scheme 2017, with more than 12,000 residences in LIG, MIG and HIG categories on offer. The scheme is related to the “Credit Linked Subsidy Scheme” under Pradhan Mantri Awas Yojana (PMAY) – (Urban) Housing for all. PropStory attempts to provide a comprehensive overview, including inputs from a visit to one of the DDA societies, latest news, and vital information from the publicly-available brochure.

Information at a glance:

  • Total number of flats – 12,072 (approx. 11,000 in LIG)
  • Nature of Ownership – Free hold
  • Last date of Application – Friday, 11th August 2017. Click here for applying online.
  • Eligibility – Citizen of India having completed 18 years of age on date of submitting the application. Having a PAN Card is mandatory.
  • Application Fee – Rs. 1,00,000/- (Janta Flats & LIG/1BHK), Rs. 2,00,000/- (MIG and HIG)
  • Location preferences allowed – Maximum of 7
  • Localities in Delhi – Vasant Kunj, Jasola, Sukhdev Vihar & Sarita Vihar, Dwarka, Pitampura, Paschim Vihar and Vikas Puri, Rohini (multiple sectors), Kondli-Gharoli, Nasirpur, Jahangirpuri, Mukherjee Nagar, Narela, Kalyan Vihar, Loknayak Puram, Siraspur, Mangolpuri, Sultanpuri, Raghubir Nagar, Hastsal, Shivaji enclave, Anand Vihar, Toda Pur, Trilok Puri
  • Participating Banks (with 8 nodal branches) – State Bank of India (INA Market), Central Bank of India (INA Market), IDBI Bank (KG Marg), AXIS Bank (Nehru Place), ICICI Bank (Phelps Building), HDFC Bank (E-block Connaught Place), YES Bank (DLF Cyber City, Gurgaon), Kotak Mahindra Bank (Safdarjung Enclave)

Important Note applicant should not own residential flat/plot (in full or in part) on Lease hold or Free hold basis in urban areas of Delhi/New Delhi/Delhi Cantonment either in their name or in the name of spouse/dependent relations/unmarried children. One person can submit one application only – either in his/her own name or as a joint applicant.

The cost of the flats is between Rs 53.52 lakh and 1.26 crore for HIG, for MIG flats between Rs 31.32 lakh and 93.95 lakh, LIG flats between Rs 14.50 lakh and 30.30 lakh and Janta flats between Rs 7.07 lakh and 12.76 lakh. Unlike 2014, there is no lock-in period of 5 years in the 2017 Scheme.

With just over 3 weeks to go for the deadline (and 3 weekends, if one would like to visit the flats), we are bringing more details regarding costs and location as per Annexure ‘A’ of the DDA Housing Scheme 2017 Brochure. Our Delhi-NCR team visited one of the DDA LIG Complexes (1 BHK flats) in Dwarka last week to collect general information and actual photographs. We have also compiled a table for ready reference on overall infrastructure and connectivity of the different localities where the flats are being offered.

DDA Housing Scheme 2017 : Flat types, Costs and Localities

The information presented here is available in Annexure ‘A’ of the Brochure. However, we have grouped the data location-wise and then category-wise, so that it is easier for readers to gather useful information. The floor area of the flats is given in terms of “Plinth Area” (square meters), which is closer to built-up area and not carpet area:

Locality Type of Flat (Area Code) – Total No. of Flats Plinth Area Range (in square metres) Tentative Disposal Cost (Rs. In Lakhs)
Vasant Kunj HIG (10) – 20 72.4 – 116.4 58.4 – 93.9
Jasola HIG (11) – 12 105.4 – 131.9 85.8 – 126.8
  LIG (31) – 4 28.2 – 46.1 15.6 – 26.0
Sukhdev Vihar & Sarita Vihar HIG (12) – 2 77.5 – 104.1 62.5 – 84.2
Dwarka HIG (13) – 20 91.6 – 135.6 61.1 – 109.2
Dwarka (Nasirpur) MIG (21) – 10 74.1 – 109.8 44.9 – 73.9
Dwarka Sector 23-B** LIG (36) – 378 33.2 – 33.8 20.1 – 20.5
Pitampura HIG (14) – 3 102.6 – 103.8 65.3 – 66.1
Paschim Vihar & Vikaspuri HIG (15) – 7 85.2 – 98.6 54.2 – 62.7
Loknayak Puram, Paschim Vihar LIG (33) – 404 42 – 44.3 20 – 22.7
Rohini Sectors 11 & 18 HIG (16) – 2 84.0 53.5 – 53.5
Rohini Sector 29 HIG (17) – 14 151 – 156.6 100.2 – 103.9
Rohini Sector 21,23,24,28 MIG (22) – 23 72.2 – 88.1 43.1 – 57.0
Rohini Sector 16 to 29 LIG (32) – 77 38.2 – 48.3 24.4 – 30.3
Rohini Sector 34 & 35 LIG (37) – 4349 33.3 – 33.8 20.1 – 20.5
Kondli Gharoli HIG (18) – 7 124.8 79.6
Kondli  Gharoli, Loni Road, Jafrabad LIG (34) – 10 31.4 – 61 16.7 – 23.5
Jahangirpuri MIG (23) – 4 99.7 50.5 – 78.1
Ramgarh Colony, Near Jahangirpuri Metro LIG (40) – 268 31.9 – 35.3 19.7 – 21.7
Narela, A-10 MIG (24) – 3 75.9 – 79.9 31.3 – 32.9
Narela Pocket A-9 MIG (26) – 331 109 70.63
Narela LIG (35) – 36 41.43 – 52.6 15.4 – 19.6
Narela, Pockets G2 & G8 LIG (38) – 3612 33.2 – 33.8 14.8 – 15.0
Mukherjee Nagar (Cat. II) MIG (25) – 31 126.1 – 131.6 90 – 93.9
Kalyan Vihar MIG (27) – 2 80.2 – 90.6 52.91 – 60.34
Siraspur LIG (39) – 2059 35.7 – 36.3 18.4 – 18.7

(Source : DDA Housing Scheme 2017 Brochure, Annexure ‘A’) **Visited by PropStory

Over 60% of the LIG Flats (11,197 in total) are located in Rohini (Sectors 34-35) and in Narela (Pockets G2 & G8) combined. MIG and HIG flats are rather few, totaling less than 500 out of 12,072 flats. Jasola, Dwarka and Sector 29 in Rohini have select HIG flats costing over Rs. 1.00 Crores. The most economically priced flats across segments are available mostly in Narela and Rohini. Sector 4 in Rohini also happens to have close to 63% of all Janta Flats, which stand at a small total of 384. Dwarka sub-city has every category of flats in DDA Housing Scheme 2017, including Janta Flats, which are listed in a separate table below:

Locality  (Area Code) – Total No. of Flats Plinth Area Range (square metres) Tentative Disposal Cost (Rs. In Lakhs)
Rohini, Mangolpuri, Sultanpuri (51) – 42 20.9 – 29.2 9.7 – 11.7
Nasirpur, Dwarka (52) – 41 26.1 – 27.7 9.1 – 9.6
Raghubir Nagar, Vikaspuri, Hastsal, Shivaji Enclave, Paschim Vihar (53) – 21 18.8 – 27.6 8.5 – 11.4
Kondli Gharoli, Anand Vihar, Toda Pur, Trilok Puri (54) – 9 18.8 – 41.2 8.4 – 12.7
Narela (55) – 32 26.11 – 28.19 7.07 – 7.64
Rohini Sector 4 (ORT) (56) – 239 28.01 – 28.81 9.2 – 9.4

 

For the Janta Flats, the asking rate generally ranges between Rs. 3,000-3500/- per square foot. For HIG flats, and with respect to location and infrastructure in the area, the prices per square foot fall between Rs. 6,000 – 7,500/-. For comparison purposes, other 3 BHK DDA flats in Vasant Kunj (Sector D) are priced well above Rs. 11,000/- per sq ft as per market data.

DDA Housing Scheme 2017 : Location, Connectivity and Infrastructure

Based on individual requirements and preferences, one can get a fair idea about the kind of social and civic infrastructure in the areas where flats are available for sale under DDA Housing Scheme 2017. Here is a concise summary:

Locality (Region) Schools / Colleges Hospitals Nearest Metro(s)
Vasant Kunj Ryan International, Delhi Public School, GD Goenka School, DAV, Shemrock Gyan Vatika, Eurokids Preschool, The Heritage School Fortis, Vikas Hospital, CGHS Dispensary, Sukhmani, Indian Spinal Injuries Centre, Institute of Liver and Biliary Sciences Qutub Minar,

Chhatarpur (Yellow Line)

Jasola Govt. Sr. Secondary School, Jasola Public School, DAV, Ideal Publid School, Jamia Ahlebait, Shaheen Indraprastha Apollo, Sanjeevani, CRIBS, Delhi ENT Hospital Jasola Apollo (Violet Line)
Sukhdev Vihar;

Sarita Vihar

Dev Samaj Modern School, Jamia Millia Islamia University; Sanskar Preschool, Sunrise, GD Goenka, AB Lincoln Sujan Mahindra Hospital, Holy Family, Fortis Escorts, Centre for Sight

Apollo, Fortis, CGHS Wellness Centre

Kalkaji Mandir, Harkesh Nagar (Violet Line)

Sarita Vihar (Violet Line)

Dwarka – Sector 23 B Hamilton International, Basava International, Paramount International, New Era (Sector 25) Artemis Hospital in Sector 20; Other small private clinics and pharmacies Sector 21 Metro (Blue Line & Airport Express Line) at 3 km
Nasirpur Guru Harkrishan, RM Convent, JR Public School, Solanki Public School Dada Dev Hospital, World Brain Center, Shakuntala nursing Home Janak Puri West & East (Blue Line) at 4-5 km
Pitampura Maharaja Agrasen, Presidium, Springfields, Presidency School, MM Public School Sarvodaya Childcare, Mahajan Eye Centre, Max Hospital, Krishan Hospital Pitampura, Kohat Enclave, Netaji Subhas Place (Red Line)
Paschim Vihar Richmond Global, Maxfort School, KR Mangalam World School, DAV, Bosco, Neo Convent, Doon Public, Little angels, GD Goenka Kalawati Kaustubh, Jain Hopital, Sparsh, Medstar,

Sumitra Hospital, B K Memorial, Balaji Action, Maharaja Agrasen

Shivaji Park, Madipur, Paschim Vihar East & West, Peera Garhi (Green Line)
Loknayak Puram MCD School, Pioneer Convent, GBSS School Karuna Sindhu, Shree Hospital, Cygnus Sonia Mundka (Green Line) at 5 km
Vikaspuri KR Mangalam World School, St. Cecilias, Ramakrishna Sr. Secondary, Shemrock Eden, Kendriya Vidyalaya Shankar Hospital, Healing Touch Eye Centre, Golden Eye Hospital, Sharma Hospital, Gupta Hospital Janakpuri East, Uttam Nagar East (Blue Line)
Rohini (all listed sectors) DTU, Delhi Public School, GD Goenka, Mt. Abu Public School, Lancer’s Convent, Heritage, Maxfort, Rukmini Devi Public School, DAV Premadhar, Bhagwan Mahavir Hospital, Rajiv Gandhi Cancer Institute, Santom, Shri Aggarsain, Avantika, Jaipur Golden Rohini East, Rohini West, Rithala (Red Line), rohini Sector 18,19 (Yellow Line)
Kondli Gharoli Prithviraj, Blooming Flowers, St. Mary’s, New Tagore Public School, Dinkar National, Anglo India Raj Rani Hospital, Malik Hospital, Sai Nursing Home, Dharamshila Narayana, Life Care Mayur Vihar Ph-1 Extension, New Ashok Nagar (Blue Line)
Jafrabad (also  Zafrabad or  Jaffrabad) Oracle Pubilc School, New Moon, Maulana Azad School, JM Convent, Sarvodaya Ruby Hospital, Kamaal Nursing Home, Mamta Nursing Home Seelampur, Welcome (Red Line) at 3 km
Jahangirpuri;

Ramgarh Colony

Govt. Boys Sr. Secondary School(GBSSS), MCD Primary School, St. Ramjas Convent, Arya Hansraj Model School, Jan Shikshan Sansthan Max Super-specialty (Shalimar Bagh), Sanjay Global, Babu Jagjivan Ram, Anand Maya, Tyagi Hospital, Dharmarth Jahangir Puri, Haiderpur Badli Mor, Adarsh Nagar (Yellow Line)
Narela Kendriya Vidyalaya, Kidzee, Shemrock, DAV, Daffodil Public School, Rajkiya Pratibha Vikas Vidyalaya Shanti Mohan Hospital, Rathi Hospital, Sudarshan Nursing Home, Shraddha, Samarpan, MCD Hospital Samaypur Badli, Rohini Sector 18-19 (Yellow Line)
Mukherjee Nagar Toddlers Home, Venus Public School, Aditya Convent, Sarvodaya Vidyalaya, Anglo Indian Public School, Venus Nulife, MVID, Balak Ram Hospital, Sant Nirankari Charitable Hospital, Hans Charitable Hospital GTB Nagar, Model Town, Azadpur (Yellow Line)
Kalyan Vihar Mother’s Pride, St. Paul Prep. School, Sunrise Convent, Mahavir Junior Model School, Little Fairy Aditya Medical Centre, Gupta Dental, Private clinics, Rajan Babu Pulmonary Institute GTB Nagar Metro, Model Town (Yellow Line)
Siraspur In neighbouring localities – Govt. Boys Sr. Secondary School, HR Public School, Panacea National, Adarsh New Life Hospital and Research Center Samaypur Badli (Yellow Line) at 3.5 km
Mangolpuri, Sultanpuri ITI, Savodaya Vidyalaya, Tula Ram, Mange Ram Memorial School, GBSSS, MCD School, Karan Public School Tamar Multispecialty, Hari Hospital, Sanjay Gandhi Hsopital, Ortho Junction, NHMC, Vivo Peera Garhi, Surajmal Stadium, Nangloi (Green Line)
Raghubir Nagar, Shivaji enclave Holy child, Maple Bear, Guru Ramdas Public Middle School, South Delhi MCD School, Shemrock, Gurukul Delhi govt. dispensary, Guru Gobind Singh Hospital, Khetarpal, Kalra, Kukreja Hospital, ESI Tagore Garden, Rajouri Garden, Ramesh Nagar (Blue Line)
Hastsal Pioneer Kamal Convent, Puja Convent, RP Memorial, Holy International, RP Memorial Public School, GBSSS Asha Hospital, Barkat Ram Memorial, Mata Chandana, Mahindru, PGH, Balaji Hospital Uttam Nagar East & West, Nawada (Blue Line)
Anand Vihar GD Goenka, Arunodaya, Sapphire International, Sneh Int’l, Vivekanad School, Cosmos Super-specialty, Anant Jyoti Eye Hospital, Indus Health Anand Vihar Terminal (Blue Line)
Toda Pur MCD Primary School Mohalla Clinic Todapur Rajendra Place, Patel Nagar (Blue Line) at 3.7 km
Trilok  Puri ICFAI , Rishabh Public School, Mother Mary’s, GBSSS, Simran Public School, Dream Rose School, Bal Vikas Jeevan Anmol, Tomar Orthopaedics, Rotary Eye Hospital, Dharmarth, Mayur Vihar Ph-1 Extension, Mayur Vihar Phase 1 (Blue Line)

 

DDA Housing Scheme 2017 : Sample Layouts

For the purpose of understanding the internal floor plan of the flats, few sample layouts are shared below. All dimensions are in millimeters.

 DDA Housing Scheme 2017
MIG and Janta Flats in Narela (close to Haryana border in North Delhi) (Source: Annexure G, DDA Brochure)
DDA Housing Scheme 2017
HIG Flats in Sector D, Vasant Kunj (South Delhi)  (Source: Annexure G, DDA Brochure)
DDA Housing Scheme 2017
LIG Flats in Dwarka Sector 23-B (visited) and Cluster plan for Rohini LIG flats (Source: Annexure G, DDA Brochure)

DDA Housing Scheme 2017 : Site Visit to Dwarka Sector 23-B

DDA housing scheme 2017
Dhoolsiras Road and approach road with sign post for Pocket 8 in Sector 23-B, Dwarka

How could we do a feature article and not get photos from a site visit? So last week (July 10, 2017) the entire DDA pocket was abuzz with visitors who wished to see the LIG flats after MHUPA’s announcement. Popularly, this housing society is also known as “Golf Links DDA”. For the DDA Housing Scheme 2017, there are has 378 LIG flats (returned from the 2014 allotments) on offer. There are a total of 2,360 units in the society and most of them are occupied. A recurring feature of DDA housing complexes is that they do not have lifts and no 24-hr power backup.

The physical presence (and advertisements) of several brokers at the housing complex could hardly be ignored… they even claim to offer end to end services from buying and paperwork to resale later on. Though this may not be the case in DDA societies which are located in remote areas.

DDA housing scheme 2017
Actual photo of the entrance gate, and G+4 storey residential blocks

The “Golf Links” Sector 23-B housing complex has a site area of ~14 acres with low-rise G+4 storey blocks. There are 2 entrance gates which have security personnel. This DDA LIG society also has 18 small community halls, 15 shops, 2 electric sub-stations and 2 Anganwadis. However, against 2,360 flats, there are only 397 surface car-parking bays. Several families apparently had only 2-wheeler vehicles, while some cars were parked on the 4-lane wide sector road.

DDA housing scheme 2017
UER-II and vacant DDA land parcels in the surroundings

This locality has good connectivity by road, with the UER-II and Golf Course Road/Dhulsiras Road, both of which pass very close to the site. Adjoining areas like Sector 25, Pochanpur, Bamnoli Village and Dhulsiras have several warehouses and auto workshops. Dwarka Sector 21 Metro, which is a junction of both Blue Line and Airport Express Metro Line, is about 2.5 km from the DDA housing complex.

dda housing scheme 2017 dwarka sector 23b new delhi
1-BHK LIG flat with kitchen, common room and small bedroom

Here are some actual photos of DDA LIG Housing in Dwarka Sector 23-B. If we discuss the individual flats, the internal rooms are rather small, and have only average quality materials and finish. The kitchen has a small PVC overhead storage tank, since water supply may be erratic on certain days. Few flat owners have installed split AC units and have modified the ground floor entrances. The bath and toilet are separate, which is the standard design in most LIG flats.

dda housing scheme 2017 sector 23b dwarka new delhi
There are 15 convenience shops present across the housing blocks and near the entrance.

Among the clear advantages, we can count good access by road and a well-maintained society looked after by the active RWA. The convenience stores certainly enhance the livability factors. Social infra and transport have already been discussed in the previous section. On the flip side, we have flats with average finish (some owners have also completely revamped the interiors), no lifts (a problem for senior citizens staying on higher floors), and a potential problem of safety in the immediate surroundings which have no habitation. However, reported incidences of crime are few or none. On the other hand, the vast open stretches of DDA lands in the area also create a peaceful living atmosphere. It hence advisable to visit the flats before applying to weigh all the pros and cons.

DDA Housing Scheme 2017 : News and Views

According to latest news reports (dated July 16-17, 2017), DDA has deputed dedicated representatives at selected project sites to guide visitors who wish to see the flats. Of the 12,000 flats, around 10,000 unoccupied flats are from the 2014 housing scheme, while 2,000 flats have been lying vacant. 793 flats from ‘old stock’ will be restored to habitable/living conditions before handing over possession to the allottees.

The move by the Delhi Development Authority (DDA) to allow and facilitate visit to flats is apparently to make people comfortable about the features of the flats and the facilities being offered in DDA Housing Scheme 2017.

A Word of Caution for Applicants – Seeking to deter “unserious buyers” and check market speculation, this time the DDA has proposed multi-tiered penal measures. If a prospective buyer surrenders his application before the date of draws, which will be done in the first week of November, no money will be deducted from his or her registration fee. If a buyer does so after the draw but before the issue of a demand letter, 25 per cent of the registration fee will be forfeited. If the flat is surrendered within 90 days of the issue of the demand letter, 50 per cent of the fee would be cut. Beyond that time period, the entire registration fee will be forfeited.

DDA Housing Scheme 2017 : Registration related Important Information

dda housing scheme 2017
Screenshot – https://dda.payu.in/ddasbi/AppForm/RegForm2016.aspx is the official registration portal
dda housing scheme 2017
The portal re-directs users to a bank’s website, which also has the special DDA Housing link

Few pointers to be kept in mind while filling the online registration form for DDA Housing Scheme 2017 are:

Pre-requisites – Before filling up the application form, applicants have to scan and store the following documents as separate files. The same needs to be uploaded during the filling online application process:

  • Applicant Passport size photo which should be in jpg format and not exceed 50kb in size.
  • Applicant Signature which should be in jpg format and not exceed 50kb in size.

Prospective applicants are advised to also go over the details of joint applications and step-by-step instructions for filling the Registration form, Application form, and making final payment. Under the rules, a husband and a wife can apply for the scheme but if both get an allotment, one of them will have to give it up.

Few affidavits and proforma need to be filled on a case-by-case basis. Readers are advised to see Pages 31-34 of the brochure for detailed information and formats.

Applicants will be allowed to give maximum 7 choices of locality. Allotment would be on basis of draw of lots (November 1st week), and the draw will be web-streamed. For the LIG (Lower Income Group) category, the registration fee is Rs. 1 lakh, while for Middle Income Group and High Income Group flats, Rs. 2 lakh is being charged. The application form costing Rs 200 can be purchased from various partnering banks or from Vikas Sadan office of DDA.

Once the Application Form for DDA Housing Scheme 2017 has been submitted final, applicant cannot edit application details thereafter but can pay registration amount through Net Banking or by cash through challan. ‘Make Payment’ option is available on the next screen at the time of submitting the form final and is also available on the left side menu in DDA AAWASIYA YOJANA 2017 website. The draw of lots is slated to be conducted in the first week of November which would be streamed online. The last date for submitting applications is August 11. This is the official website link for downloading the brochure https://dda.payu.in/ddasbi/AppForm/NewAppBroucher.aspx

Withdrawal of Application from Scheme – people are allowed to withdraw application 15 days before conduct of draw (up to 23rd October, 2017) without any deduction. A successful applicant would have an option to surrender the flat, but subject to following charges and conditions:

S. No. Period of Withdrawal Cancellation Charges
1 From date of draw, but before issue of demand-cum-allotment letter 25% of application fee
2 From date of issue of demand letter till 90th day of date of issuance of demand-cum-allotment letter 50% of application fee
3 91st day till 180th day of the date of issuance of demand-cum-allotment letter, i.e., the date of automatic cancellation 100% of application fee, i.e., full forfeiture

 

DDA Housing Scheme 2017 : Official Contact Details

For questions related to Application form, the Deputy Director (Coordination) Housing can be contacted:

  • Address: Deputy Director (Coordn.) Housing, Housing Department, Vikas Sadan, INA, New Delhi – 110023
  • Phone No(s): 24661803, 24661810
  • Email (for withdrawal related info): ddjntacordhous@dda.org.in
  • Authority for Grievances (after allotment): Director (H)-I/Director (H)-II, Commissioner (Housing), Pr. Commr. (Housing), or Vice Chairman, DDA.
  • For advice on Financial issues: Financial Advisor (Housing), D-Block, 1st Floor, Vikas Sadan, New Delhi – 110023

For payment details, applicants need to contact the concerned banks. The lists of institutions from which interest subsidy (under PMAY-CLSS) can be availed are shared on

The results of the draw shall be displayed on the Notice Board of DDA at Vikas Sadan, D-Block, INA, New Delhi, and on the website http://www.dda.org.in.

DDA Housing Scheme 2017 : After the Draw

Only the successful applicants who would be allotted the flats through the draw would need to submit the following documents:

  • Self-attested copy of PAN Card. For allottess, PAN details will be verified before issuance of possession letter by the Authority.
  • Self-attested copy of proof of residence (Govt. issued ID incl. Aadhar or utility bills/house tax receipt/CGHS card/Bank Passbook)
  • Self-attested copy of Account Statement of last one year, or copy of IT Return filed for FY 2015-16

Demand-cum-allotments letters for DDA Housing Scheme 2017 would be dispatched by Registered/Speed Post at the applicant’s postal address. An extra 5 % of total flats of offer will also carry a waiting list, valid for 10 months from date of issue of demand letters. For unsuccessful applicants, registration fee would be refunded within 30 days from the date of draw. Hence all applicants must clearly mention their account details in the form.

DDA Housing Scheme 2017 : Cost break-up, Payment Period and Possession

A tentative disposal cost of the flats has already provided in one of the previous sections. This cost includes land premium, cost of construction and 20% surcharge on both of these, especially with respect to HIG/SFS flats in “South Delhi”. Allottee would also be required to pay applicable taxes and one-time maintenance charges. For ‘old stock’ flats, benefit of depreciation on construction cost, at applicable rates, has been accounted for in the calculation of tentative disposal cost of the flats.

Allottees are liable to make payment as per the demand-cum-allotment letter within 90 days from date of issue of said letter without interest. For payment after 90 days, but less than 180 days, 12% interest would be levied. After the payment, Conveyance Deed (Free Hold deed) papers will be issued by DDA. Expenses on e-tamping and registration, stamp duty, etc would be borne by the allottee. Possession of the flats must be taken within 3 months from the date of issue of possession letter.

DDA Housing Scheme 2017 : Concluding Remarks

PropStory team hopes that the information provided in this article will be useful for applicants and home-buyers who are planning to avail the DDA Housing Scheme 2017. In 2014, the scheme offered 25,040 flats across categories, with prices ranging between Rs 7 lakh and Rs 1.2 crore. The online response was so massive that the DDA’s official website crashed soon after the launch!

This year the response has been lukewarm according to news reports, with only 27,000 forms sold in the first 10 days, along with 1 lakh visitors on the official website. The application process may gain momentum as the deadline approaches. Hence, those interested should weigh all the pros and cons since there are heavy cancellation charges this time if the applicant wishes to withdraw later. Unlike 2014, there is no lock-in period of 5 years in the 2017 Scheme. Hence resale may be easier in those areas with better infra and connectivity. As suggested by DDA as well, the best way forward would be to visit the sites and see the flats. There are just 3 weekends to go until the 11th August deadline for DDA Housing Scheme 2017!

 

The strange ways India works has come to haunt the RERA implementation too. With just few important states going ahead with their version of the very important legislation the real estate industry is divided in its preparation and current activities. We have been meeting developers, some of whom are still unfazed about the Act while others have pressed a pause button on sales in ongoing projects. A large developer in NCR has shut down its marketing galleries seemingly to prepare itself for compliance to the rules (not notified yet) and, on the other hand others are pulling down their existing collateral. Worst affected seems to be Maharashtra where a registered broker came under fire and that has confused us at Propstory too. As an advertiser and a content portal, we wonder where we stand wrt RERA!

That said, we carry all latest information that is communicated to us at project sites or by the firms. So we are as updated as the industry players are, that can be considered as our standard disclaimer in these uncertain times.
From the markets –

3. Mumbai – Epsilon TowerLodha The ParkPanvel as an area

Regards


Ashish Mahajan

Hi,

Various signals from the Government at the center keep boosting the prospects for Middle Income housing. The guideline paper for the ambitious Credit Linked Savings Scheme, announced earlier this year, includes a far larger section as qualified for the benefits. The Government is ready to subsidize loans upto Rs. 12 lks for people earning upto Rs 18 lks, however small the benefits be it does add to the possible capacity building through investments. Also the structuring of this scheme is commendable, as all the subsidy willl be credited upfront rather than being phased out. While the current slowdown in the real estate sector continues to hurt the prospects, we believe the smaller ticket homes will start seeing better days ahead. For the rest, better prospects of economy and wealth creation are more important, minus the cash dealings.
We have built enormous amount of information, almost all large scale apartment complexes) on the city of Hyderabad. All of it can be accessed here – Hyderabad page (there is more in the works). Similarly you may visit the respective city pages to access everything we have put down to date.
Few project updates too – PBEL City & Incor One City (we have been following for over an year now)
Wadhwa Group’s focus on VENTILIT Concept
For Propstory

Ashish Mahajan

Founder
ILD Budget Analysis

Hi,

As the much awaited event is past us, there is lots for real estate sector to take away from it. Tax incentives in various forms were extended to home buyers (small rebate in personal taxes), builders and land lords. The buzz word this budget was affordable housing, with it being accorded the infrastructure status. There was further relaxation to the unit sizes that qualify as affordable residence. Many builders we speak to have gone back to drawing board and looking at options to enter this space that is also the need of the hour. We await clarity on whether there is any budget/ unit cost related constraint to it as well.
We have rounded up the Budget 2017 in along with International Land Developers of Gurgaon and the note is attached to the email.
From the markets we cover –
For Propstory,
Ashish Mahajan
Godrej Palm Grove(PC:Godrej Palm Grove)

Hi,

Every year around the Union Budget there is a lot of anticipation that builds up in the economy and society. While economic and infrastructure growth is what we yearn for, we settle for inadequate tax rebates and tall promises. The Budget 2017 is being looked forward to for several reasons including –
1) PM Modi is halfway through his tenure
2) Demonetisation hit the economy hard and its repercussions are still playing out
3) State elections are around the corner, and most importantly Uttar Pradesh is going to polls
4) The US government is talking protectionism which may mean newer challenges for emerging markets
We believe there will be direct tax benefits to individual tax payers and may be some of it will be extended even to the corporates. All this is likely to propel demand for residences as well as offices. The magnitude of the rebates and tax benefits will go on to define the extent of such spike in demand. We will see some changes to the Service Tax rate which affects the sector as well as some guidance to the implementation of GST, one of the biggest tax reforms India still awaits. We shall see reforms in healthcare and infrastructure, which are correlated to growth of the real estate sector and urbanisation. As far as the general state of economy and the sector are concerned, not much improvement is being seen on the ground. Recently in a conversation with an industry expert we discussed the importance of simplification of taxes and approval processes, more than anything else. Lets wish some of the above or all of the above is granted in 2017! That will be an Accha Budget.
We covered a lot of ground in Navi Mumbai recently and here is our research –
Few projects were visited at Thane, an area we will cover extensively over next two months. Project Immensa and Pride Palms.
Regards,
Ashish Mahajan
For Propstory