DDA housing scheme delayed by six months
Delay due to incomplete construction of flats as well as ongoing elections
May 02, 2014
Source : Business Standard


DELHI: The Delhi Development Authority (DDA)’s latest housing scheme with about 3,000 flats on offer will be delayed by at least six months due to the incomplete construction of flats as well as ongoing elections. The housing scheme, which was announced after a gap of four years, was expected to roll out last month.

The project is being keenly watched for its attractive pricing. Usually, DDA flats are about 25-30 per cent cheaper than those sold by private developers. The agency postponed the announcement date, as flats are not yet ready. The Lok Sabha election is another reason for the postponement. A senior official of the urban development ministry confirmed the development and said the process would resume after May.

The last scheme was announced in 2010, when 15,000 flats were on offer. According to initial estimates, about 1,000-3,000 flats across Delhi, mainly in the areas of Rohini, Narela and Dwarka, would come for sale in the new housing scheme this year. The winners are chosen through a draw of lots.

The new scheme had recently generated a buzz among non-resident Indians (NRIs) as well, mainly from those based in the US and South Africa. “There is huge interest among NRIs for buying DDA flats because of the location, quality and price compared to other private developers,” a senior DDA official had said.

Earlier, housing schemes by DDA were more frequent, at least every two to three years. However, the agency has often failed to deliver the flats on time. Also, DDA has been unable to acquire any land over the last 10 years, due to which it has formulated a land pooling policy, under the Delhi Master Plan 2021. According to the policy, about 100 residential projects with estimated 14-16 lakh units across outer Delhi have been planned.

Under the policy, landowners can pool their land for development by DDA. But instead of compensation, the owners will get 48-60 per cent of the land back after the authority has set up the infrastructure. The owners will then be allowed to build on the land themselves or give it to private developers.


Latest Realty News

Supertech verdict may lead to activism in real estate
May 02, 2014
DELHI: Sohan Mishra has been driven to wits' end over a real estate builder reneging on the delivery date of his dream house in Noida. A delay of over one-and-a-half years has forced him to extend his rent agreement. This has strained his finances, as he is also paying back his home loan in fixed monthly installments. However, there is now a glimmer of hope.
Shifting of Millennium bus depot: DDA to handover plots to DTC
May 02, 2014
DELHI: DDA today told Delhi High Court that it will be giving plots at three places to the city government for shifting the DTC's 50-acre Millennium bus depot, built on fragile Yamuna river bed at a cost of Rs 60 crore ahead of the Commonwealth Games in 2010.
Supertech moves SC to save Noida twin towers
May 01, 2014
NOIDA: Real estate major Supertech on Wednesday filed a special leave petition in the Supreme Court against the Allahabad high court’s order to demolish two residential towers in Noida’s Sector 93A for flouting building norms.
Indiabulls Real Estate Q4 profit down 20% at Rs 41.67cr
Apr 30, 2014
DELHI: Indiabulls Real Estate today reported 20 per cent fall in consolidated net profit at Rs 41.67 crore for the quarter ended March 31 on lower sales.
Vaishali property is value for money
Apr 30, 2014
DELHI: Vaishali has become one of the most preferred real estate destinations of New Ghaziabad (trans-Hindon regions), as the infrastructure here has improved vastly and Metro connectivity is in place.
Real estate market wants a stable regime
Apr 29, 2014
DELHI: The real estate sector is in a bad shape in the country. Many builders say this is mainly on account of the uncertainty in the current extended season of general election in the country.
Union Cabinet to take a call on land transfer to Department of Industrial Policy and Promotion for e...
Apr 29, 2014
DELHI: The Union Cabinet is expected to take a decision tomorrow on transfer of land near IGI Airport here for construction of a world-class exhibition centre and air cargo complex. "The matter is listed in the Cabinet meeting tomorrow. The land would be transfered to the Department of Industrial Policy and Promotion (DIPP)," a source said.
Realty firms hope poll outcome to bring turnaround in market
Apr 29, 2014
DELHI: Makeshift tents erected by real-estate brokers were a common sight across Noida until a year ago; so were home shoppers hopping between new apartments.
Infra sectors to be hit by high land cost
Apr 29, 2014
DELHI: There is a growing clamour against the provisions of a new land acquisition law with several infrastructure sectors - from road, to railway and power - fearing a three-fold jump in acquisition cost due to the new legislation.
CCI says no abuse of dominant position by Ansal in Punjab
Apr 29, 2014
DELHI: Fair trade regulator CCI has rejected allegations of abuse of dominant market position against Ansal Township and Land Development with regard to the realty company's commercial project in Jalandhar, Punjab.

Latest Realty News Of State

Realty Talk's