Delhi Development Authority (DDA) has recently announced the result of the draw. The draw result was announced on November 29, 2017. The list of winners has also been made available on the official website of DDA. You can look at the names and see if you are there or you have to wait for the next time the DDA announces its housing project draw. More than 12,000 flats were entailed under the DDA housing scheme.
The housing scheme is linked to Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (PMAY)-Housing for All. The project is another step of the government towards providing affordable housing to the urban sector by 2022.
DDA Housing Scheme 2017 Draw Date
DDA Housing Yojana 2017 started on June 30, 2017 and expired on August 11, 2017. The flats under the scheme were mostly located in Rohini, Narela, Dwarka, Pitampura, Jasola, Paschim Vihar and Vasant Kunj. This time, the development authority had decided to remove the 5-year lock-in period for the resale of the property as it gets a little difficult for the house owners to sell the property after such a long period of time.
Where can you apply for home loans?
Most of the home buyers would be looking for loans to finance their home. The cost of the property varies from ₹14.50 lakh-1.26 Crores. The property value range is for the LIG flats to the HIG. The different segment of the people will have different preferences and financing the home can be the choice of the people from any income group. The banks that have joined hands with DDA for application forms and scheme-related transactions are:
- State Bank of India (SBI)
- ICICI Bank
- HDFC Bank
- Axis Bank
- Kotak Mahindra Bank
- Yes Bank
- IDBI Bank
- Central Bank of India
Lowest Home Loan Interest Rates
Top banks like SBI, Bank of Baroda, HDFC Ltd, PNB HFL, LIC HFL are among one of the most preferred lenders when it comes to home loans. The reliability of the customers in these lenders is unbeatable and these lenders are providing home loans at lowest interest rates. At present, most of them are providing loans at 8.30% per annum. This allows the customers to buy their dream home and pay lower EMI. Since it is a long time commitment, everyone wants to get the lowest possible. The maximum loan amount that you can get depends on your eligibility and the property value. The margin is however from 75%-90% of the property value. If all the documents asked by the bank are provided and you have a good source of income, getting the approval for housing loans under DDA or PMAY is quite simple.
Who are Eligible to Apply for DDA Flats 2017?
Even though, the result is out now, knowing the eligibility for this year can accordingly prepare you for the next time. This year, the eligibility criterion for DDA flats was as follows:
- Any Indian national with an age of 18 years and above at the time of filing the form.
- The applicant must not own a flat under his/her, spouse or under children’s name in Delhi.
- An applicant can submit only one application.
- Both husband and wife can apply for the scheme individually. But if both of them are named in the lucky draw, only one can retain the flat.
- An applicant must have a PAN number which he/she must quote in the application form.
What are the documents required to apply for DDA Housing Scheme?
You are required to submit the self-attested copy of the following documents while applying for the said housing scheme.
- Residence Proof-Government Card, Driving License, Passport, Voter ID, Water Bill Electricity Bill, Telephone Bill, Ration Card, Aadhaar Card, House Tax Receipt, Bank Passbook showing the name and address,
- PAN Card
- ITR filed for 2015-16 with 2016-17 as the financial year
- Relevant documents to identify the people belonging to Scheduled Caste (ST), Scheduled Tribe (ST), Physically Handicapped or other categories which get reservation