DDA to Build 2,500 Affordable Apartments for Senior Citizens

First time in India, affordable apartments units will be constructed for citizens aged 60 years and above where they can spend their life comfortably. Proposal for building these apartments for senior citizen has been approved by Delhi Development Authority“>Delhi Development Authority.

According to the sources, the authority has identifies the land where the affordable housing units will be developed. As the official said “The complexes will be developed by five different firms and the authority has asked them make to easy, barrier-free accessibility within the complex”.

Total 2,500 units will be constructed by private developers and will be completed in the three year period. The area of housing units will range from 40.00 square meter to 45.00 square meter and all units will equipped with combined bedroom, kitchen and living space and the apartments will also have one bathroom and balcony.

The housing complex will be equipped with the facilities and amenities such as library, health center, jogging track, park, food shops/canteens, common room and 24 hours security will also be provided.

Delhi Development Authority“>Delhi Development Authority (DDA) and developing firms are working on three financial models. In the first mode of payment, applicant could pay a lump sum amount and occupy the flat, the second one is monthly installment mode which is ideal for pensioners. The third is reverse mortgage,” said an official. Reverse mortgage, for which DDA is talking to banks, would allow applicants to mortgage property and pay for the flat.