Delhi Development Authority (DDA) is coming up with a new rule in its upcoming 2014 flat scheme. The authority has proposed to withhold the flat ownership for the first 5 years after the allotment. According to the new proposed amendment in allotment rules, if approved, the flat allottees will not have the ownership rights and hence can not sell their flats.
According to the DDA officials, the authority is coming up with this proposal to ensure the cost of flats is not escalated after allotment and the right applicants gets allotted. The proposal to bring the amendment has been waiting for the final approval from Delhi LG, who is also the chairperson of the DDA. Definitely, the amendment will rule out many applicants who want a DDA flat just for investment purpose and the chances for right applicants will be increased.
DDA has received many such complains in the past of middlemen meddling with the allotment right after the draw is announced. According to the DDA officials, the authority want to provide affordable houses to the people who are really in need and keep the process fair. For the first 5 years, the successful applicant will be given allotment and possession letter which will allow him/her to stay in flat. After the completion of 5 year, the allottee can get full freehold rights and execute conveyance deed of his flat.
DDA is expected to announce the 2014 flat scheme in the month of August this year. It will be the largest ever housing scheme of DDA which will offer approximately 2700 flats to all the categories including EWS, LIG, MIG and HIG. Out of total about 90% of the flats will be allotted to the lower income group categories. The prices of EWS flats in DDA 2014 flat scheme are expected to start at around Rs. 12 Lakh while the HIG flats will cost anywhere from Rs. 85 Lakh to 1 Crore.
Recently DDA also proposed not to allow the NCR property owners from applying into the scheme but owing to some legal reasons, the proposal could not go through and the NCR home owners can now apply into the scheme.