5020 DDA flats going, will you get lucky?

The Delhi Development Authority (DDA) on Friday announced a new housing scheme offering 5,020 flats across the city, report Moushumi Das Gupta and Neelam Pandey.

Your dream of buying an affordable flat in Delhi might come true very soon.

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The Delhi Development Authority (DDA) on Friday announced a new housing scheme offering 5,020 flats across the city. The one-, two- and three-bedroom flats will come for prices much less than what private builders ask for. The starting price is Rs 7.95 lakh and depending on the area it varies. The maximum is Rs 77.80 lakh for a three-bedroom flat in south Delhi’s Motia Khan area.

Forms will be available from August 6 and the last date for applying is September 16.

The ready-to-move flats are located in Dwarka, Paschim Vihar, Rohni and Pitampura in West and northwest Delhi, Vasant Kunj, Motia Khan in the south and Dilshad Garden in the east among other areas.

Among those on offer are 280 expandable flats — independent units on which you can build an extra floor.

Realty experts said at a time when property prices in Delhi and NCR towns like Gurgaon, Noida and Ghaziabad have hit the roof, the DDA flats come as a hope to the middle class. “Despite the fact that interest rates have gone up, people can still think of getting their homes financed as these flats are affordable,” said Anshuman Magazine of of real estate consultancy firm CB Richard Ellis.

The only problem: you have to be really lucky. The allotment will be decided by draw of lots. In the last DDA scheme in 2006, there were 230 applicants for each flat on offer.