DDA Housing Scheme 2017: So, why are people not interested in buying flats this time?
The Delhi Development Authority (DDA) has extended the deadline for the 2017 housing scheme by a month, till September 11. The move from DDA came due to poor response from the public. According to FE Bureau, officials said the authority had received just about 8,000 applications for 12,072 flats up for sale. For its last housing scheme, which was launched in September 2014, DDA had offered 25,034 flats and the scheme had received a whopping over 10 lakh applications.
So, why are people not interested in buying flats this time? An official with the authority pointed out the primary reason for the poor response was that banks were not giving loans due to the forfeiture clause.
What’s forfeiture clause in DDA housing scheme 2017?
DDA had introduced the forfeiture clause, penalty ranging from 25% to 100%, in a bid ensure that only serious buyers applied under the scheme. “Now, if a person surrenders the house within 15 days of the allotment of demand letter, there would be no penalty levied, which would have earlier led to forfeiture of 25%,” the official said.
For the LIG category, the registration fee is Rs 1,00,000 while for the MIG and HIG flats, Rs 2,00,000 is charged.
Earlier, the last date for submitting the applications for the draw of lots was August 11. The last date for the draw has also been extended by a month to the first week of December.
DDA housing scheme 2017
DDA had launched the scheme on June 30 with 12,072 flats under which 87 are high-income group (HIG) flats, 404 are two-room middle income group (MIG) flats. The rest 11,197 are one-bedroom lower-income group flats (LIG) and 384 janta flats.