DDA goes for image makeover with luxury houses in west Delhi
The DDA is going to build its first luxury housing project in the Capital that promises all high-end amenities that one sees in housing complexes of reputed private builders
Nov 29, 2014
Source : Hindustan Times


New Delhi: Known for its utilitarian and shabby flats, the Delhi Development Authority (DDA) is all set to give top private builders of Delhi-NCR a run for their money.

The DDA is going to build its first luxury housing project in the Capital that promises all high-end amenities that one sees in housing complexes of reputed private builders. While offering top-notch facilities, DDA promises to keep the price affordable for the middle-class buyers. The project, to be completed in about two years, will have only two-bedroom flats priced at approximately Rs. 60 lakh — almost half of the market price.

The project will come up in Pocket E of Lok Nayak Puram, an urban extension of west Delhi near Paschim Vihar. The multi-storied residential complex will have 820 high-end flats, each having a carpet area of 700 square feet.

For the first time, a DDA housing project will boast of a clubhouse, spa, tennis court, swimming pool, amphitheatre, gymnasium and shopping centres. Round the clock security and CCTV camera surveillance are other high points.

Starting from the 1960s, the land development agency has built nearly 3.5 lakh residential units constructed on a ‘no profit no loss’ basis. With social housing on its mind, DDA has always provided only basic amenities at its flat with not too expensive fixtures so that pricing could be kept affordable.

At the Lok Nayak Puram project, DDA will deviate from the pattern for the first time.

“We found out that the difference in cost after providing better facilities was in tune of only four per cent and if merely with that increase in cost we can make available high-end infrastructure, there is no harm in it,” said DDA vice-chairman Balvinder Kumar.

“People can easily pay this difference if they want better services,” he said.

Kumar said that while venturing into luxury apartments, DDA’s work on making affordable housing would continue simultaneously. “Even in one-room flats, we will introduce high-end infrastructure,” he said.

He said the DDA was keen to change its image of providing shabby flats and after Lok Nayak Puram, similar projects in other locations would be taken up.

Latest Realty News

In 3 years, Robert Vadra firms reaped up to 600 per cent profit in land deals
Nov 29, 2014
Three companies owned by Robert Vadra, son-in-law of Congress president Sonia Gandhi, made profits up to 600 per cent within three years of investment in real estate in Rajasthan
US Realty Market Emerges as Investment Destination for Indians
Nov 28, 2014
Mumbai: With the US market emerging as an attractive investment destination, there is a growing interest from Indians to buy properties there, property consultant Jones Lang LaSalle (JLL) said
DDA to launch bigger housing scheme in 2016
Nov 28, 2014
New Delhi: If you have not managed to get a flat in the Delhi Development Authority’s (DDA) housing scheme, there’s still hope
Priyanka Chopra to endorse real estate group
Nov 28, 2014
Delhi: Bollywood actress Priyanka Chopra was roped in to endorse Unnati Fortune Group, a real estate entity
'Smart city' buzz sends land prices soaring around Visakhapatnam
Nov 28, 2014
VISAKHAPATNAM: All the buzz about transforming Vizag into a `smart city' seems to have sent rates of land in and around the Port City spiralling northwards
Produce original lease document in 7 days or give up possession of govt land
Nov 27, 2014
INDORE: Noose tightened around lease holders for alleged misuse of government land
Illegal flats on fringes find political support
Nov 27, 2014
PUNE: Even before the government takes a call on legalising illegal constructions, word is out in the fringe realty market
National body seeks legal sanction for RWAs
Nov 27, 2014
NOIDA: The recently formed Confederation of All Residents' Welfare Association (CARWA) has sought legal sanction for all RWAs in the country
Realty stocks surge over 4% as RBI eases rules for low-cost home loans
Nov 27, 2014
MUMBAI: Realty index rallied after taking cue from the RBI announcement of easing rules for low-cost home loans
Builders skip big projects, go for budget housing
Nov 27, 2014
CHENNAI: As apartments sales in the middle and high income segments are showing no signs of improvement, many builders are seriously scouting for small parcels of land to promote budget housing units in the sub - 20 lakh segment

Latest Realty News Of State

Realty Talk's