DDA Will Pay 8 Percent Interest Per Annum if the Refund Delayed

Latest Housing News, Schemes & Projects | By Rajkumar

Delhi Development Authority launched its biggest housing scheme with 25,034 flats and also announced the draw result of successful applicants for the scheme. DDA received 10,80,700 applications forms for the scheme.

After the draw result DDA has decided to refund the registration amount for unsuccessful applicants. DDA is making an effort to refund the security amount to all unsuccessful applicants for its “housing scheme 2014” within a month.

Minister of State for Urban Development and Housing Babul Supriyo told in the written reply to Lok Sabha that under the guidelines for the scheme the registration amount must be refunded by DDA within 90 days.

If DDA will delay to refund the amount within the given period then the simple interest of 8 per cent per annum will be paid on the deposit.

The news provides some relief for unsuccessful applicants of DDA Housing Scheme 2014.

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