DDA Housing Scheme 2017 – DDA Removed Penalty & Forfeiture Clause

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DDA Housing Scheme 2017

DDA Housing Scheme 2017 – DDA, the Delhi Development Authority has removed the relaxed the forfeiture clause of its new housing scheme i.e. DDA Housing Scheme 2017 /DDA Aawasiya Yojana 2017. It has been decided by the authority that no penalty will be charged if the residential houses/flats are surrendered within 15 days of allotment.

Earlier, the Authority had put a penalty of 25% if buyers or allottees surrender the house/flats after allotment. Besides this, the Lieutenant Governor also approved the recommendation to increase the deadline for the scheme by a month, till September 11.

According to a Senior DDA Official, the authority had noted that many potential buyers were afraid to apply for the scheme because of this clause. So the authority discussed the matter with LG Anil Baijal and he approved our recommendation.

According to the Officials of DDA, the relaxation of the penalty clause will result in more people applying for the scheme. This is the main reason behind this decision. He added that earlier many banks which were not ready to give loans due to this clause have now changed their mind.

According to the Sources, the Delhi Development Authority (DDA) had received about 9,000 application forms. The scheme was launched on June 30, with over 12,000 flats on sale including 87 HIG flats, 404 two-room MIG flats, 11,197 one-bedroom LIG flats and 384 Janta flats.

In the next week, DDA is likely to set-up some new counters for registration of potential buyers. The officials informed that the LG, who is also the chairman of DDA, is happy with the progress of the scheme

News Source: http://www.millenniumpost.in/delhi/penalty-clause-relaxed-in-dda-housing-scheme-257094

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