DDA approves launch of premium housing scheme in Delhi

The flats include those in high income group (HIG), middle income group (MIG) and low income group (LIG)

The Delhi Development Authority (DDA) in its meeting chaired by lieutenant governor VK Saxena on Friday approved the launch of “Premium Housing Scheme 2025” offering 177 residential flats and garages at prime locations including Vasant Kunj, Dwarka, Rohini, Pitampura, Jasola, and Ashoka Pahari.

Delhi LG VK Saxena. (Sanjeev Verma/HT photo)

The flats include those in high income group (HIG), middle income group (MIG) and low income group (LIG) that will be sold via e-auction along with 67 car/scooter garages also situated across prime localities.

DDA has also decided to reduce the amalgamation charges for commercial properties from 10% of the circle rate to 1%. DDA also reduced the multiplication factor for auction of commercial properties from the present rate of twice the circle rate to 1.5 times the circle rate.

“This will incentivise real estate developers to develop commercial areas to scale and promote investment and employment in the city. This was one of the key reasons for commercial developments migrating to neighbouring cities in the National Capital Region such as Noida and Gurugram, where the admissible amalgamation charges were far lower compared to Delhi,” a DDA spokesperson said.

Officials said that these decisions emanate from the recommendations of a high level joint government-Industry task force constituted by the LG, which observed that higher amalgamation charges and multiplication factor on the circle rates with regards to commercial plots led to great disparity and created a bottleneck in property transactions as developers were discouraged from proceeding due to the financial implications.

Similarly, the task force had observed that Delhi’s circle rates are disproportionately high as compared to market rates in neighbouring cities and a high multiplication factor is restricting the opportunities available for investors, resulting in greater investments in other cities of NCR.

“This is the first time that DDA has taken on board industry views for deregulation and simplification of its policies,” the spokesperson added.

DDA also approved change of land use in various sectors of Narela to help in creating an education hub, development of multi-sports integrated stadium and sports complex and overall development of the sub-city. In addition to this, DDA also approved a discount scheme on bulk purchase of unsold flats in Narela by government departments and universities.

“Government agencies and universities purchasing a minimum of 10 flats will be eligible for the same discount currently offered to the general public under DDA’s Apna Ghar Awaas Yojana 2025, that is 25% on LIG flats and 15% on MIG, HIG, and EWS flats in Narela,” the spokesperson said.

DDA also approved a change of land use (CLU) for development of universities in sectors G7 and G8 as part of the proposed education hub in Narela sub-city and another CLU of a 75-acre plot from commercial and residential to Public and Semi-Public (PSP) for development of multi-sports integrated stadium and sports complex.