After successfully launching the housing project in 2017, the Delhi Development Authority (DDA) has now announced the mega sale of 21000 flats in June 2018 courtesy its housing scheme. Interestingly, the new scheme is getting launched after a year, much unlike the previous one which happened after 3 years.
There are 9000 more flats to be bought this year compared to 12000 last time around. It is likely you might have missed out on buying a DDA property in 2017 as your name didn’t pop up in the draw. You can thus try your luck and hope to get a property this time around. So, if you are seeking details of DDA Housing Scheme 2018, you can read the article further.
A Look at the Price of DDA Flats in Housing Scheme 2018
DDA flats are going to be priced in the range of ₹7.5 lakh-₹1.44 crore. There are Janta, LIG, MIG and HIG flats on sale, of which the second type are available the highest among all with 16298 housing units set aside for the same. It’s followed by 3622 Janta, 579 MIG and 488 HIG flats. All these flats are located in Dwarka, Rohini, Vasant Kunj, Narela, Siraspur, etc.
How Can You Get DDA Housing Scheme 2018 Application Form?
The housing development authority has tied up with 10 lenders – State Bank of India (SBI), HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, IDBI Bank, Yes Bank, Central Bank of India, Canara Bank and Bank of Baroda (BoB) to collect application money. You can find application brochures at ₹200, inclusive of taxes. The form can even be downloaded from DDA website.
Check Out the Eligibility Criteria for DDA
The DDA has categorically stated the following eligibility criteria for the upcoming housing scheme.
- An Indian national with an age of 18 years and above is eligible to apply for the scheme.
- The applicant must not have any residential house/flat/plot in part or full on either a leasehold or freehold basis in his/her name, spouse or even the dependent minors anywhere in Delhi, New Delhi or Delhi Cantonment
- In case the share of the applicant in the jointly owned plot is below 66.9 square meters, the concerned individual can apply.
- Those having been allotted a flat constructed by DDA or any other agency are debarred from applying
What Shall You Do Meanwhile?
The upcoming housing scheme is still a month and a half away from the launch. So, the time is ripe to arrange the down payment required if you are looking to buy a DDA property on a loan. Let me tell you that a home loan is financed to the extent of 75%-90% of the property cost, making you pay the remaining portion.
Also, keep a firm eye on the interest rates charged by banks and choose that’s lowest of all to decrease the EMI and the overall interest outgo. Since it’s a long-term commitment, even a difference of 1%-2% in interest rate can make or break the situation for a borrower.