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Mad Rush For DDA Flats, Because there has been a rapid increase in the rates of property By Sonia Vaid, Section Delhi Real Estate
WITH THE increase in nuclear families, migration of people from other cities, better incomes and standards of living, the rates of property in Delhi have seen a huge rise. The desire to build one's own home and the availability of loans on easy Equated Monthly Installments (EMIs) have led citizens to buy property even at a higher price. Due to this, the business of real estate has witnessed a huge boom and property dealers are smiling their way to banks. Delhi is a hub of people from all corners of India. The city is bubbling with people who want to invest their money in property. Everybody has the dream to own a house in the capital city of the country. The charm of the metropolitan has enchants people to stay here forever. Due to the high prices of privately owned property people direct their dreams onto the property managed and sold by the government of Delhi.
This mad rage to buy government flats was evident in the months of August and September, when Delhi Development Authority (DDA) announced the sale of 5,000 flats at a price almost 40 per cent less than private developers. The flats are available in plush areas like Vasant Kunj, Dilshad Garden, Dwarka, and Pitampura at the cost of 7.2 lakhs to 7.7 lakhs rupees. Five lakh applications were expected by DDA officials and they received around 80,000 forms on the first day itself and earned a sum of Rs 80 lakhs with each brochure priced at Rs 100. The counters at Vikas Sadan were prepared to handle the rush of applicants and two additional sales counters had been added. Click on "Full Story" for more...
The above facts prove the hunger of the Delhiites for property. With 28 per cent reservations for various categories, the applicants are not very hopeful. Yet, they went in large numbers to submit the forms. Moreover, citizens consider DDA as a reliable authority in terms of construction of flats.
First time applicants like Deepa share their sentiments, "In Rohini, no house in our budget is available for less than 20 lakhs, but DDA flats start at eight lakhs. I will buy a form tomorrow only and may be we will get an allotment." Neemodhar, spokesperson, DDA reiterated, "Our houses are affordable houses. The cost of construction is lowest in Delhi and NCR. All sections of society can apply for these flats." Another official commented, "DDA flats are cheap because there is no profit to be made." The enthusiasm apart, there are applicants like Jaya Chandra who reveal, "The first couple of times we were very excited. We used to get the forms the moment they arrived. But we never got through the draw. This time around we are not so excited, but we will definitely apply." Despite such reality checks, people cannot wait for the draw. The hope to get lucky lives on. Such scenes often reminds one of songs like "ek bangle bane nyara," and "ye tera ghar ye mera ghar." Source: www.merinews.com
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