Demonetisation effect? DDA housing scheme finds few takers, authority may extend draw date
The Delhi Development Authority (DDA) on Friday blamed demonetisation and slump in real estate sector for the lukewarm response to its housing scheme launched on June 30.
The scheme has received only 5,000 applications under different categories of flats and about 55,000 forms were sold in four weeks.
The authority had received 7.5 lakh applications for its scheme launched in September 2014. It had printed 20 lakh forms and about 17 lakh were sold. On the day of the launch, about 30,000 forms were bought and the number crossed the two lakh mark within five days.
JP Agarwal, principal commissioner (land disposal and housing) of DDA, said apart from demonetisation and slowdown in the real estate business, non-availability of bank loan for registration fee and a few ‘other’ reasons affected the housing scheme.
“People have already invested in either private or group housing society projects. The banks are not offering loans for registration money because of the penalty clause introduced this time. We have decided to forfeit 25% of the application money in case one surrenders the unit after the draw,” he said.
The official said that if the authority does not receive sufficient number of applications for different category of flats, it may extend the date of draw. An approval for the extension will be sought from Delhi lieutenant governor Anil Baijal, who is also the chairman of DDA.
“It all depends on the scenario. Nothing can be said at this moment. We will decide reasonability whether we need to extend the date for draw or not before August 11, the last date for submission of application forms,” said Agarwal.
Under the new scheme, about 13,000 flats are on sale. Majority of them are old Low-Income Group (LIG) flats/one-bedroom flats in Narela, Rohini, Pitampura, Loknayakpuram, Dwarka, Bindapur, Paschim Vihar, Jahangirpuri, Mukherjee Nagar, Dilshad Garden, Sukhdev Vihar, Jasola, and Sarita Vihar.
Most of the flats bought under the 2014 scheme were surrendered because the applicants found them too small. The flats lacked basic amenities such as water, road, transport, and markets in the neighbourhood or poor construction.
However, Mahesh Kumar, engineer member, DDA said all issues have been looked into and the authority will ensure basic infrastructure is in place before the final allotment.
“The Delhi Jal Board (DJB) has given a written assurance to supply uninterrupted water there,” he said.
Agarwal said the DDA had also written to Delhi Metro, Delhi Transport Corporation, Mother Dairy, and Kendriya Bhandaar. “We are sending reminders to them. We will have better connectivity in the next three-four months and give shops’ licenses to vendors,” he added.
