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DDA Housing Scheme 2020
Over the past few years, the Government of India has taken multiple initiatives to improve the availability of residential properties across the country. These initiatives have ranged from loan subsidies to subsidized housing and even tax benefits. DDA Housing Scheme 2020 or Delhi Development Authority is one of such initiatives that are primarily focused to provide apartments to more citizens across Delhi NCR (National Capital Region).
What is DDA Housing Scheme?
An initiative under the PMAY scheme launched in 2015, DDA Housing Scheme aims to provide affordable houses to not just the impoverished but also the affluent. Beneficiaries of this initiative can avail easy loan options to buy government constructed properties at subsidized rates. Essentially, applicants registering themselves under this scheme can avail affordable subsidized housing if they are selected over lucky draws.
Since the amounts required to buy these apartments is quite low, financing them with home loans can be an easy option. This initiative offers residential apartments to the following groups of individuals.
- EWS or Economically Weaker Section.
- LIG or Low Income Group.
- MIG or Middle Income Group.
- HIG or High Income Group.
- Super-high Income Group.
Salient Features of DDA 2020
The major features offered under DDA Housing Scheme 2020 are listed underneath.
- Affordable housing for all sections of society.
- The apartments will be spread over 11 residential areas.
- With the success of 2019, the number of apartments being constructed in the first phase stands at 1114.
- 932 apartments are being constructed for HIG while 168 flats are being built for Super-high Income Group.
- It is also in the process of constructing 48,000 flats for other income groups.
Types of Housing under DDA
DDA offers other types of spaces for minority groups and land re-sanctions as well. Any beneficiary can easily avail a home loan in Delhi to avail of these apartments. Crucially, the subsidized low value essentially ensures lower loan amounts and consequently easier repayment for every relevant income group.
- Apartments for EWS and LIG individuals.
- Housing for SC and ST applicants.
- Housing for MIG and HIG buyers.
- DDA shops and stalls scheme.
- Re-allotment of surrendered or canceled applications of 2019.
DDA Eligibility Requirements
Much like the numerous factors that can affect home loan eligibility, a crucial requirement to buy these houses; the eligibility requirements of this scheme are as follows.
- Applicants must be Indian citizens.
- Candidates should be above the age of 18 years.
- The applicants should not be the owner of any other property. Furthermore, parents or siblings cannot be an owner either.
- The candidate must not have already availed DDA housing scheme before.
DDA Application Procedure
Interested buyers hoping to avail of this scheme should follow the application procedure in detail. It is crucial they apply for the scheme before they go on to secure the best home loans that are offered by different financial institutions. Applicants should follow the below-mentioned procedure.
- Applicants should register themselves with personal details on the online portal. Once registered, User ID and password are sent to the candidate via email.
- After receiving the details, applicants should log in to their user account.
- After logging in, candidates can access the form for DDA. They should fill it along with uploading personal photographs and signature.
- Finally, candidates must pay the registration fees via any of the online methods.
- The acknowledgment slip issued at the end should be printed and preserved safely.
Conclusion
It is important that applicants check the most convenient home loan interest rate and all additional features before selecting their loan product. One can reduce their overall expenses even further by knowing about everything related to saving tax when taking home or business loans.
Also Know: How to Use a Business Loan EMI Calculator?
