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The rate cut on home loans announced by the state-owned banks would prove to the icing on the cake for successful applicants to the Delhi Development Authority (DDA) housing scheme-2008.
Applicants who have paid the earnest money of Rs 1.5 lakh on their own would now be able to get the loans to pay the balance amount on new slashed rates. Those who had paid the earnest amount through bank loans cannot avail the offer as they come under existing borrowers.
"The applicants will instantly become the beneficiaries of the move. These flats are being sold at 40 per cent less prices than the private flats," said Ritesh Mishra of Assotech Builders.
The financial crunch, job cuts notwithstanding, the enthusiasm among the applicants is at at a high. Even those who will get loans at the previous rates are happy as the flats offered in the scheme were almost 40 per cent cheaper than the market rates.
"I wish I get a flat allotted. How to pay the balance amount is secondary," said Sumit Singh, who works with an MNC and had not checked the results of the draw. The DDA would post the results on its website http://www.dda.org/ by 3 pm, said DDA spokesperson Neemo Dhar.
The scheme was announced on August 6 and closed on September 16. The scheme received an overwhelming response and nearly 9,00,000 application forms were sold and around 3,00,000 were downloaded from DDA's website. As many as 5,60,000 forms were submitted.
The tentative cost of the flats varies from Rs 7.2 lakhs to about Rs 77 lakhs depending upon the location and the plinth area which ranges from 39.39 sq mt to 158 sq mt. There are 3500 one bedroom flats, 890 two bedroom, 350 three bedroom and 280 expandable flats.
| Flat city |
| The scheme offered 5,010 ready-to-move flats in areas like Rohini, Vasant Kunj, Dwarka, Paschim Vihar, Pitampura, Motia Khan, Dilshad Garden, Narela, Shalimar Bagh, Jhilmil, East of Loni Road, Nand Nagari, Peeragarhi, Sarai Khalil, Lok Nayak Puram, Bindapur and Zafrabad |
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