Penalty on Surrender of Flats in DDA Housing Scheme 2017

May 22, 2017 | Last Modified: May 22, 2017 at 4:08 pm

A penalty instruction for DDA housing scheme 2017 has been given by the Delhi Development Authority about surrendering a house. This time if you surrender a flat allotted in DDA Flat Scheme 2017, then the applicants will be levy a heavy penalty, ranging from 25% to 100%.

The authority has decided to attract only the serious buyer for its most awaited scheme of the year which to be launched in mid-June.

Surrender Penalty in DDA Housing Scheme 2017

In DDA scheme 2014, about 50 percent of allottees surrendered the allotted flat and but time the authority is going to levy a heavy penalty on the surrender process of home under the DDA Housing Scheme 2017.

In 2017’s scheme, DDA has also increased the registration amount or you can earnest money. Applicants belonging to LIG category will have to Rs 1 Lakh while for MIG/HIG category, it is Rs 2 Lakh.

Penalty Slabs

  • No penalty will be levy from the applicant who will surrender the flat before the date of draw of lots.
  • if an allottee surrender/return their flat within 90 days of draw then 25% of earnest money will be charged as a penalty.
  • if an allottee surrender/return their flat within 90 days of issuing of demand letter then 50% of earnest money will be charged as a penalty.
  • After the extended period there would be no exemption that mean 100% earnest money will be charged as a penalty.

In DDA housing scheme, more than 13,000 flats will be offered for sale, for online registrations will be started in the mid-June. Flat for booking will be available in the below locations.

Location of DDA Flats

Sukhdev Vihar. Sarita Vihar. Dwarka. Pitampura. Dilshad Garden. Narela. Rohini. Jahangirpuri. Loknayakpuram. Jasola. Paschim Vihar. Bindapur and Mukherjee Nagar.

Banks for DDA Scheme 2017

Following are the banks where application form and payment submission facility will be available for DDA Housing Scheme 2017.

  • Bank of Baroda
  • Yes Bank
  • Axis Bank
  • IDBI Bank
  • Kotak Mahindra Bank
  • State Bank of India
  • Central Bank
  • HDFC Bank

Source: http://economictimes.indiatimes.com/wealth/personal-finance-news/pay-heavy-fine-for-returning-dda-flats/articleshow/58784296.cms