Application Money May Hike for DDA Housing Scheme 2016

Latest Housing News, Schemes & Projects | By Rajkumar

A budget disturbing news for the home seeker who are thinking of applying for a flat in DDA housing scheme 2016, because the authority is planning to increase the registration money for its upcoming housing scheme. Though the final decision has not taken yet, the DDA is considering increasing the fee in order to dissuade non-serious applicants and speculators from applying for its upcoming scheme.

Latest Update: DDA Housing Scheme 2016 Announced for 13148 Flats

According to the statement of senior DDA official working on the scheme, There is a school of thought that a high registration fee will attract only genuine applicants and deliberations are on at present on the issue. We do plan to increase the registration amount, but the decision is yet to be finalized.

And giving a suggestion to applicants, he further said that applicants should also check the flats physically before applying, rather than surrendering them after allotment. In DDA housing scheme 2014, over 10,000 allottees had surrendered their flats by the reasons of faraway locations and size of the flats.

In fact, these surrendered flats will form the bulk of the 11,000 flats the DDA is going to offer in its latest housing scheme.

According to sources, the registration fee might be hiked by up by three to four lakhs, but the official denied any steep hike.

The source quoted that even though we intend to increase the fee, it wouldn’t be high enough to become out of reach of most people. Though there are provisions to keep the registration fee up to 20 per cent of the flat’s cost, we are going to keep it below 10 per cent if the suggestion is approved.

However, the registration amount is refundable, but many applicants find it difficult to arrange such an amount of cash and rather choose to get it financed from banks.

In 2014 scheme, the registration amount was Rs. 1 lakh and the bank were financed the amount for the applicants for an average charge of Rs. 5000/-. If the registration fee goes up, the charge would also be hiked proportionately and could range between Rs. 10,000 and Rs. 20,000.

Since the allotment of flats is done through a draw of lots, it needs to be seen how many people are willing to “gamble” with such an amount.


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