The DDA housing scheme, introduced by Delhi Development Authority (DDA), aims at meeting the housing requirements in the metropolis. The authority received more than three lakh applications within a day of the launch, and it’s no surprise that the DDA housing scheme is the current buzz in the real estate world.
So, what is the DDA scheme?
The Delhi Development Authority launched the DDA housing scheme under the Pradhan Mantri Awas Yojna government scheme (PMAY) in early 2019 that offers almost 18,000 flats based on four categories suiting a wide range of income groups. And while the houses are affordably priced, if you don’t want to miss out on this opportunity, you can also opt for housing finance options from a trusted home loan provider, such as Tata Capital.
Eligibility and application process
The DDA scheme has up to 4 BHK houses, and the entire procedure is digital. To apply for a flat of your choice, you must be an Indian citizen of over 18 years of age and have a valid Permanent Account Number (PAN). Additionally, note that the flat will be allotted to a person, his/her spouse, and dependents, such as unmarried children. It is advised to check your home loan eligibility before applying for a loan.
How to apply
Since the application process is entirely digital, you need to visit the official DDA website, www.dda.org.in and fill up all the details requested for in the application form. Along with keying in the necessary details, you also need to upload your latest photograph and scanned signatures. The application fee is also to be paid online and will depend on the category of home chosen. However, if you opt to choose more than one category listed on the form, then the application fee charged will be for the highest category you select.
While you can procure the application form directly from the DDA website, the forms are also available on the official websites of thirteen other banks.
Important points to keep in mind
- An individual can apply for only one flat either in his or her own name or as a joint applicant. However, both the spouses can apply for flats separately to increases the chances of getting a house. In the event of both applications getting approved, only one of them will be allotted a flat, and the other applicant will get a full refund of their application fee
- At the time of application, you must also list down the details of your savings account, which could be with any bank
- If you want to apply for an EWS flat, then your income shouldn’t be higher than Rs 3 lakhs per annum. However, there are no such criteria for any of the other categories
Most people looking to buy a home who may not have the budget often opt for home loans. The DDA scheme is a fantastic opportunity to get your dream home at an affordable cost, and if you still find yourself short of money, you can opt for a home loan from Tata Capital. Since the prices are low, your home loan amount too would be on the lower side, and you wouldn’t have to shell out a lot of money in EMIs. So, don’t wait and fulfill your dream of owning a home with Tata Capital.