Diwali is one of the most important festivals in India. This festival is celebrated with much grandeur and people receiving bonuses at work. Sounds familiar? So, if you are in Delhi/NCR, what could be your best bet for investment opportunity, with your bonus money and in real estate. The DDA Scheme of course. The Government of India is very strategic when they release the set of DDA schemes to be bought, ensuring that people who actually need it, can afford it. So, comes the celebration of the festival of lights with a lot of people getting their bonus salaries at work. While some invest in LEDs and gold (not a bad option) some of the people living in and around the Indian capital believe in real estate investments.
A Quick Look on DDA Housing Scheme So Far:
DDA is an organization that helps people buy plots and housing at reasonably lower rates than the real estate market along with financing options. In 2014, the scheme offered 25,040 apartments ranging from Rs. 7 lakhs to Rs. 1.2 crores. This option, although intended for the middle income group and below, has gained much popularity because the flats and apartments are well located and considering the housing prices in Delhi, they are dirt cheap. Also, they are great investment opportunities. People register and their booking request with the various banks which are associated with DDA scheme such as Axis Bank. This requires filling up a form and sometimes these form collection require a day due to the queues, because people are very interested.
The DDA scheme is more of a designated home loan, more than anything else, although the housing projects are highly lucrative for most. Thank goodness that all applications are verified and validated so that, no families make two or more application. Even though the plots are small or the apartments are comparatively smaller, owning an apartment in Delhi is a privilege one cannot give up on.
Highlights of DDA Scheme in Diwali:
Diwali, is being celebrated with much pomp and show everywhere, but DDA scheme promotional activities in Diwali are something that Northern Indians have much to look forward to:
- Delhi Development Authority or DDA’s Housing Scheme 2016 will see 12,000 apartments go on offer around Diwali.
- These apartments are spread around some of the most sought out in Delhi including Vasant Kunj, Jasola, Narela, Rohini and Dwarka.
- 10,000 of the 12,000 flats are yet to be occupied and are from the scheme released in 2014.
- The other 2000 flats are apartments that are unoccupied are from elsewhere under the DDA.
- The DDA is supposed to meet this month to decide a go-ahead with these flats to go up on offer.
- The apartments will go on offer in October, which is the Diwali month this year.
- There are no new flats being offered this time, however for people the good news is that these are one-bedroom Lower Income Group apartments, which means a lot of people who genuinely need housing opportunities will get the chance again.
- But this time, there is no economically weaker sections category being offered, while the registration price has been hiked.
- For LIG category the booking registration is 1.5 lakhs whereas for the MIG or middle income group the registration fees are Rs. 5 lakhs.
- The best part of the DDA scheme in Diwali in 2016 is the fact that DDA is planning to take the whole plan online unlike in the past, which made it cumbersome for a lot of people.
The last time the website crashed with the immense response from people but DDA believes that this time they can actually handle the traffic. Although no new apartments are being offered, the investment opportunity does seem appealing for most.
Why Investment in DDA Scheme is A Good Idea This Diwali?
A lot of people might find it difficult to see owning a one bedroom flat in Rohini not that appealing. But the truth is, the areas that have DDA schemes are developing in a phenomenal rate. A lot of businesses are blooming and people from all walks of life are calling these areas home because of the convenience of the commute in system in Delhi. The truth is no place in Delhi/NCR is considered inaccessible, even if it is considered far. The Delhi Metro has much to do with it. Also, the Metro system is growing and spreading across in recent years, making it very convenient for people to commute from their own homes, wherever they live. So, the location does not actually matter. The prices are phenomenally low and you could not ask for a better way to own your own home. This investment is for your family and the future of your family and Diwali is about families, isn't it?