DDA may extend DDA housing scheme 2017 last date
After receiving 5000 applications Delhi Development Authority is likely to extend the last date of application form submission of DDA Housing Scheme 2017 by 15 days. The scheme was launched on 30 June 2017 and the last date of application is 11 August. DDA has received just 5000 applications for DDA Housing Scheme 2017 till today.
However, the scheme was launched for the allotment of with 12,069 flats of which 87 are high-income group (HIG) flats, 404 are two-room middle-income group (MIG) flats. The rest 11,197 are one-bedroom lower income group flats (LIG) flats and 384 Janta flats.
In order to increase the sale of these flats, DDA is also in talks with Central Bank of India, IDBI, Axis Bank and ICICI Banks that are likely to come with loan offers to pay registration money. Delhi Development Authority has estimated the registration fee for Lower Income Group (LIG) which is Rs 1,00,000 while for the middle-income group and high-income group flats, Rs 2,00,000 will be charged.
According to the sources, Central Bank will offer loan of Rs 2,00,000 for around Rs 8,000 and Rs 1,00,000 for around Rs 4,000. As per the terms & conditions of the banks, the loan will be provided to the only who had accounts with the bank before the launch of the scheme. Recently, the banks were not ready to provide loans under DDA Housing Scheme 2017 due to the forfeiture clause.
The banks were trying to escape for providing loans to pay registration money because if a prospective buyer surrenders his application before the draw date, no money will be deducted from his or her registration fee. If a buyer does so after the draw but before the issue of a demand letter, 25 per cent of the registration fee will be forfeited.
On another hand, if a prospective buyer surrenders his flat within 90 days of the issue of the demand letter, in this case, the 50 percent amount will be deducted in the registration fee. Beyond that time, the entire registration fee will be forfeited.
After receiving the bad response of DDA Housing Scheme 2017, DDA department is talking with four banks to provide the loan to pay registration money. Besides, DDA is likely to extend the last date of the scheme by 15 days.
News Source: http://www.hindustantimes.com/delhi-news/dda-housing-scheme-2017-last-date-may-be-extended-by-15-days-few-takers-so-far/story-qn6w0p0TadjYosdPl87r6O.html