News & Views on Indian Real Estate

Monday, August 11, 2008

Houses Galore! Courtesy DDA

After a gap of two years, Delhi Development Authority will not only give a chance to own a house but will also provide an excellent investment opportunity to prospective buyers. DDA is coming up with 5, 020 flats out of which there are 350 three-bedroom flats, 890 two-bedroom flats, 3, 500 one-bedroom flats and 280 flats that can be expanded. Realty experts said that because of the affordable rates, many people who will apply under the scheme would look at it as a form of investment. The fact that all the flats are freehold (one has ownership rights) is also an added boon. Also, it is for the first time that DDA has not categorized the flats as low, medium or high-income group. "This was a conscious decision to not link income to the category of house so that more people get an opportunity to apply under the scheme. Earlier if you had to apply for a LIG house, you had to submit an income certificate," said a DDA spokesperson.

Vikas Bamotra said...

The Delhi Development Authority was created in 1957 under the provisions of the Delhi Development Act "to promote and secure the development of Delhi "

DDA has played a vital role in the orderly-yet-rapid development of Delhi. The city has become the residence of choice for more than 11 million people and this number continues to increase.

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