The Delhi Development Authority (DDA) will build old-age homes, in the form of studio apartments, for retired government employees in Dwarka Sector 16.
The project will cost an estimated Rs 282 crore and the flats will be available on lease.
The allottees will have to pay Rs 2.2 lakh out of which Rs 20,000 would be a one-time non-refundable fee and Rs 2 lakh would be adjusted at the time of allotment against the total premium. Rs 8 lakh would be charged from each allottee at the time of allotment as a one-time premium.
They will have to pay monthly maintenance charge of Rs 10,000 and will have the right to hold the property till they or their spouses are alive.
A total of 12 acres of land has been identified by DDA on which 1,550 studio apartments would be constructed. The project will take four years, said a senior official of the department.
DDA vice-chairman Arun Goel said, “We have decided to make studio apartments because our focus is on giving quality and community life to senior citizens and ensure their privacy.”
A total of 200 studio apartments would be provided to the Indian Navy for renting it out to its retired personnel.
The navy will be responsible for the management of the complex after the project is complete.
The remaining houses will be allocated to retired central and state government employees, armed forces, teachers at government universities and colleges and DDA employees. The beneficiaries of the project will be chosen through a draw of lots.
The exact quota for each category is yet to be decided.
10% of the constructed area will be for commercial activities.
The area will have Metro connectivity, shopping complex and health-care centres, Goel added.