DDA Housing Scheme Results
It's the day Delhi has been waiting for with fingers crossed. Nearly 5,000 new DDA flats will be allotted on Tuesday through a computer lottery.
One of the applicants Ritesh Jain, an entrepreneur, knows the odds are tough. There are 113 people who've applied for the DDA flat he wants.
"It's all about luck. It would be one of the happiest moments in my life if I get a flat," he said.
The 5,000 DDA flats range from Rs 7 to 77 lakhs. They've been built in some of Delhi's most-wanted colonies like Dwarka, Rohini and Vasant Kunj.
The fact that they're 50 per cent cheaper than market rates for these areas makes them priceless. And to avoid any controversy, the lottery is being supervised by IIT teachers.
"It's 100 per cent transparent. The draw is totally computerized; all the application numbers and flat numbers have been fed and both the list would be randomised by the computer. The cut off will be drawn by the judges and the computer will declare all the results," said Neemo Dhar, Director, PRO, Delhi Development Authority.
Anybody who is allotted a house will get a cheaper home loan from a government bank. Loans for upto Rs 20 lakhs have fallen by two per cent.
And half of the new DDA flats cost Rs 20 lakhs or less both the houses Ritesh has applied for fall into this category.
"I have just heard the news about the new home loan rates. I'll be very lucky to get loans at cheap rates," Ritesh said.
The lucky winners will get the keys to their new houses in two months. Those who didn't make it will be refunded the registration fee of Rs 1.5 lakhs by the end of December.
The DDA draw comes at a time when the government has announced capping of interest rates on home loans to their lowest levels in many years. But with one in every 110 applicants standing a chance, this indeed is a once in a lifetime opportunity for the lucky few.
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