In a bid to make homeownership more accessible and to facilitate several significant projects, the Delhi Development Authority (DDA) has recently approved crucial amendments. Now, people who already own properties in Delhi will be eligible to purchase DDA flats and participate in housing schemes of DDA.
Amendment in DDA Housing Regulations
One of the notable changes involves the amendment of the DDA (Management and Disposal of Housing Estate) Regulations, 1968. This amendment is set to make a drastic change to the real estate landscape in the national capital. The key modification eliminates the previous restriction preventing individuals who already own property in Delhi from applying for another DDA flat.
DDA recognized that this restriction had been a hurdle to the demand for DDA flats. By removing this constraint, the authority aims to expand housing opportunities and encourage more people to participate in DDA housing schemes.
The move is expected to have several positive effects. Firstly, it is anticipated to increase the sale of DDA properties, resulting in maximum fresh inventory being sold in the initial stages. This, in turn, will facilitate the recovery of capital and help avoid additional repair and maintenance expenses.
The proposed amendment is now scheduled to be sent to the Ministry of Housing and Urban Affairs, Government of India, for final approval and notification. If approved, this change will open up new avenues for individuals looking to invest in DDA properties.
Other Project Approvals
According to news reports, the DDA has also given the green light to several critical projects during the meeting:
- Expansion of Ram Manohar Lohia (RML) Hospital: The DDA approved the change of land use for the expansion of the renowned Ram Manohar Lohia Hospital. This development is expected to enhance healthcare facilities and services in the national capital.
- Establishment of CPI(M) Office in Delhi: The Communist Party of India (Marxist) or CPI(M) has received the go-ahead to establish its office in Delhi, contributing to the political landscape of the city.
- Construction of Six State Bhavans/Guest Houses: In a move aimed at enhancing the accommodation options for visitors, the DDA has approved the construction of six state bhavans or guest houses in Sector 17, Dwarka.
These project approvals signify the DDA’s commitment to infrastructure development and urban planning in Delhi, making it an even more inclusive and accessible city for residents and visitors alike.
With these changes and project approvals, Delhi is set to witness a transformation in its real estate market and infrastructure development, promising a brighter and more accommodating future for its residents and stakeholders.