Delhi Development Authority (DDA) has been rolling out housing schemes at regular intervals under the aegis of the Pradhan Mantri Awas Yojna (PMAY) to meet the housing needs in the nation’s capital. Being a statutory body, DDA has been able to provide housing solutions to people at a very reasonable rate. It attempts to do so with transparency in the allotment. For any aspiring homeowner, the DDA Flats Housing Scheme is an affordable option.
If you are an aspiring homeowner, you should consider DDA housing while doing your research on housing projects in the nation’s capital suitable for you. Buying a DDA flat is different from buying a flat from a private builder. Here are a few things an aspiring home buyer should know about the DDA Flats Housing Scheme:
- DDA invites applications from interested home buyers and does the final allotment through a computerized draw. The applications can be made online only.
- Unlike in home loan eligibility, there is no income criteria for applying for a flat in the HIG, MIG and LIG category. However, the income of an applicant of flats under the EWS category must not exceed three lakh per annum.
Additional Read: What is the Eligibility criteria for DDA Flat Allotment Scheme?
- The housing scheme is generally spread across designated categories. A specific number of flats are allotted for the High Income Group (HIG), Middle Income Group (MIG), Low Income Group (LIG) and Economically Weaker Section (EWS) categories.
- DDA housing prioritizes affordable housing as most of its flats are for LIG and EWS categories. It is linked to the credit-linked subsidy scheme under the Pradhan Mantri Awas Yojana – Housing for All (Urban).
- To apply for a DDA flat, you have to make a refundable deposit which is Rs 25,000 for EWS, 1 lakh for LIG and two lakhs for MIG and HIG categories.
- You, your wife or children must not own property over 67 square meters in Delhi to be able to apply for a DDA flat.
- In the 2019 scheme, there were over 45,000 applications for the 18,000 flats on offer.
- The registration fees for flats for flats in each of the above categories are:
- Janta Flat- Rs 10,000
- 1BHK- Rs 15,000
- EWS- Rs 25,000
- LIG- Rs 1 lakh
- MIG/HIG- Rs 2 lakh
- Income is not the only defining factor in the allotment of DDA flats. A percentage of these flats are reserved for war widows, specially-abled, ex-services personnel and members of the scheduled castes and scheduled tribes.
Additional Read: Application Procedure for DDA Housing Scheme in Delhi
Due to the uniqueness of its features, the DDA housing scheme stands out in the Delhi real estate landscape. However, for an aspiring home buyer, buying a DDA flat would still mean arranging a home loan and looking for housing finance companies. Tata Capital is one of the leading institutions in the housing loan sector. Tata Capital home loans offer flexible terms and conditions as well as competitive home loan interest rates, making it the preferred home loan partner for thousands of aspiring home buyers. Reach out to them today!