Funding aDDA is offering 8,000 flats for draw in June while another 7,000 flats are in various stage

Shri Ram Shaw With the days of economic slowdown rapidly coming to an end, there's a housing bonanza in the offing for the burgeoning population of the National Capital Region (NCR). The Delhi Development Authority (DDA) is likely to announce a new megahousing scheme, where approximately 8,000 flats will be up for a draw. The projects are spread across the national capital in areas like Jasola, Narela, Vasant Kunj and Dwarka, among others. Of the 15,000 houses currently under construction, nearly 8,000 will be ready by June.
The ministry of urban development says that the DDA has to announce its next scheme soon to avoid watch and ward costs and maintenance cots on the completed units. Watch and ward costs entail hiring of security personnel to watch over completed units to ensure that fittings and fixtures are not stolen. These costs could run up a steep bill.
A senior DDA official said that a three month gap is usually preferred between the announcement of the scheme and the allotment of the houses. Since the houses will be ready for possession by June, the announcement is likely to be made three months ahead. Official confirmed that another 7,000 units were at various stages of completion. No formal date has been set for the announcement and the finer details of the scheme are being worked out.
The last time the DDA announced a housing scheme was in September 2008, and the draw for it was held in December. Under that scheme, 5,238 houses were up for sale and the authority received nearly six lakh applications. Officials expect the 2010 scheme to draw upwards of 10 lakh applications. In December 2008, after the last draw, a proposal was made by the DDA to the ministry of urban development, requesting a clause be inserted into future schemes, wherein houses under the SC/ST category will not be allowed to be resold for at least 15 years after the allotment. The ministry is still sitting over the proposal.
Courtesy ET Realty dtd.14-05-2010
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