A DDA flat was a privilege in a city where almost nobody could build anything. Its inventory of unsold flats now exceeds 40,000 at a value of Rs 18,000 crore, and it's still building more.
Delhi Development Authority has been left with 16,000 unsold houses, with another 24,000 yet to be put on sale. It has now fixed revenue target at Rs 4,600 cr for upcoming housing scheme.
Delhi Development Authority officials say the likely awareness building will include education on 'proper disposal of waste & its segregation at source”, as well as need for schooling for kids.
While the proposals increase maximum remunerative component given to developers to 50% from current 40%, minimum plot area for rehabilitation reduced to 50% from present 60%.
Delhi Development Authority awaits housing ministry nod to implement relaxation. Moved aimed at ensuring that fresh housing stock does not go unsold while old inventory is piling up.
The scheme is completely online from processing of application to possession of flats. The applicant will have to visit DDA only for the purpose of execution deed.
Delhi must see opportunity in the new envoy, to be prepared for hurdles, yet be forward-looking and free of preconceived notions that could spoil any chances of a breakthrough.
New bill aims to fix key issues with IBC 2016, including delays & patchy implementation, and protect creditors, with window for genuine promoters to retain control of their companies.
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