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The Delhi Development Authority (DDA) has announced that people owning a flat or plot of land measuring less than 67 square metres in Delhi are now eligible to apply for newly constructed flats offered by the urban body. This move comes after the Union Ministry of Housing and Urban Affairs approved modifications and relaxations proposed by the DDA in the Housing Regulations of 1968, which were issued under section 57 of the DDA Act of 1957.
The DDA stated that the objective of the modifications and relaxations was to allow the general public to buy DDA flats without many restrictions and hassles. The previous regulations prevented anyone from applying for DDA flats if they or their family members owned any flat or plot of land, regardless of the area of the flat/plot. With the new modifications, anyone with less than 67 square metres of flat or plot in Delhi can apply for the allotment of newly constructed flats offered by the DDA for the first time.
Moreover, waitlisted applicants will be allotted surrendered or cancelled flats through a mini draw. The DDA also stated that if more than 25% of the flats in any area or locality remain unsold after their first offering, such a locality shall be deemed a "developing area". In such a case, no restrictions will be applied to applicants in terms of owning flats or plots of land in Delhi when unsold flats in the developing area are offered under the subsequent housing scheme.
The DDA has also expanded the eligibility criteria to include not just individuals but also the Centre, the state government, local bodies, and autonomous bodies of the Centre or the state government for the allotment of flats. In addition to disposal through the launch of the regular housing scheme, unsold flats in developing areas may be offered online on a "first-come-first serve" basis under the relaxed norms.
The DDA believes that the modifications and relaxations will enable those individuals to buy DDA flats who were previously not eligible due to owning land/flat in Delhi either in their own name or in the name of their family members. The changes will also generate more demand for DDA flats.
While the DDA has not specified when the modifications or relaxations received the nod from the central ministry, the move has been welcomed by many in Delhi who have been unable to apply for DDA flats due to the previous restrictions. The new eligibility criteria will provide a great opportunity for those with smaller plots of land to obtain a newly constructed flat in Delhi without facing any significant hurdles.
This move is expected to provide a boost to the real estate sector in Delhi, as it will lead to an increase in demand for newly constructed flats, which could lead to higher sales volumes and prices. Additionally, the expansion of the eligibility criteria to include government bodies could result in a significant increase in the number of flats purchased, which could provide a much-needed boost to the real estate sector in Delhi.
Overall, the modifications and relaxations proposed by the DDA are likely to have a positive impact on the real estate sector in Delhi, and will enable more people to purchase DDA flats without facing any significant hurdles. This move is expected to lead to a higher demand for newly constructed flats, which could provide a boost to the real estate sector and, in turn, the economy.
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