The Delhi Development Authority (DDA) is preparing to launch a significant housing initiative aimed at addressing the capital’s housing demand and boosting its revenue. Starting 19 August, the DDA will open registrations for nearly 40,000 flats, a substantial number of which have been unsold for several years. This initiative will be implemented through three distinct housing schemes, offering a mix of flats at reduced prices with the added benefit of freehold status.
The DDA’s move is designed to cater to a range of income groups, particularly focusing on Economically Weaker Sections (EWS) and Lower Income Groups (LIG). By providing these units at discounted rates, the authority aims to alleviate the affordable housing crisis in Delhi while simultaneously generating revenue from long-standing inventory. The flats available under this scheme will be categorised based on different housing needs, and they will be updated and prepared for immediate occupancy before possession is granted to the buyers. This strategic approach not only addresses the surplus inventory but also ensures that the units meet current living standards.
In addition to the financial benefits, the offer includes the transfer of freehold rights, which allows buyers greater control and ownership over their property. This move is expected to make the flats more appealing to potential buyers who are seeking both affordability and long-term security in their investment. The initiative reflects the DDA’s ongoing efforts to streamline its housing distribution and tackle the city’s affordable housing shortage head-on. The authority’s proactive stance in updating and offering these units at competitive prices underscores its commitment to improving housing accessibility for Delhi’s residents.
