Investors can now check the DDA Housing Scheme 2008 Draw Results directly from Investment Guru Blog
Click the link below to check the list of Successful applicants
Showing posts with label DDA. Show all posts
Showing posts with label DDA. Show all posts
DDA Housing Scheme 2008 Draw Results
Both the website are not responding due to heavy traffic of investors trying to check their results. It is advised that you should try logging in late in night to see the Results online. The Results would also be published in leading newspapers tomorrow.
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DDA Housing Scheme gets good response, Allotment Details
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DDA Scheme'08 Brochure & Application Form
Read More!DDA Housing Scheme gets good response, Allotment Details
The DDA Housing Scheme 2008 has attracted about 3.5 Lac applicants for the 5010 flats put for sale. DDA had a dream run in terms of money collected on Application forms and will earn a interest of about 45 crores in the 3 month period on the Registration amount collected from the applicants. The lottery draw will be held in the Month of December.
Result of Allotment
The results of the draw shall be displayed on the Notice Board of DDA at Vikas Sadan, D-Block, INA, New Delhi-23. In addition the result shall be displayed on the website of DDA with the address http://www.dda.org.in. The result will also be published in the leading national Newspapers.
Allotment Cum Demand Letters will be dispatched through Speed Post/Courier/Registered Post
Waiting List
A separate waiting list of 200 applicants will also be declared in order of priority. The waiting list will be valid only for 9 months from the date of issue of demand letters. The registration money of the wait listed registrants shall be refunded along with unsuccessful registrants. However, before going for the draw in case the same takes place for filling up the vacancies, all such eligible wait-listed shall be asked to deposit the registration money. 15 days time shall be given to them to do so and only those names shall be included who would be depositing their registration money prior to the draw. A draw will be held only once after six months, from date of issue of demand letters, for allotment of the surrendered flats to the wait listed registrants as per the priority decided initially. Only those flats which are surrendered within six months from date of issue of demand letters would be included for allotment to waitlisted registrants. The waiting list is created just to ensure that the surrendered flats (if any) are allotted to same registrants rather than keeping them vacant and the list will be valid only for 9 months, hence it doesn’t create any right of the wait listed registrants if they fail to get a flat from the surrendered ones. If successful, the cost would be the cost of the flat on the date the demand cum-allotment letter is issued.
Interest on Registration money
In case registration money is not refunded within three months from the closure of the scheme, in case of unsuccessful applicants, simple interest @ 5% will be paid on the registration money for the period beyond three months after the closure of the scheme up to the last date of the preceding month in which refund has been made.
Can I surrender my Flats on allotment ?
The successful applicants shall have the options to surrender the flats before the issue of the possession letter. Flat will be automatically cancelled in case payments are not made within the prescribed period. No show cause notice shall be issued for the purpose. In both the cases, amount deposited is refundable without any interest. However, cancellation charges shall be recovered
How to check DDA Flats Draw Results and Application Status ?
Step 1. Go to the DDA Website by clicking following link
Step 2. You will see the following screen.
Select the Scheme and Reserved Category as shown above and put your Registration number or Priority No. and Category of Flat.
Click Search and see the Status of your application. Please not that the draw is expected in later part of December,2008.
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Banks rush to provide loan for DDA Flats Registration
SBI Offers lowest Interest Charge for financing DDA Flats
As the last date for submitting the application form for DDA flats is approaching near, the War has begun. Almost all Banks have jumped the bandwagon to offer loans for financing the registration amount of Rs. 1.5 Lacs for the DDA flats offered under the DDA Housing Scheme'08. State Bank of India has come to the forefront by offering the cheapest loan for application money. Interest rates offered by banks for the DDA Housing scheme varies from Bank to Bank and hence investors should be compare these before approaching the nearest branch for a loan. Currently SBI is the best option for availing the loan as it is charging Rs. 5,050 towards interest and processing charges against Rs. 6600 charged by private banks.
One should go to the Public Sector banks to avail the loan for DDA flats as they are charging less interest rates as compared to the Private Banks. Private players like HDFC, ICICI Bank, IDBI Bank and others are charging Rs. 6,600 as Interest charge and processing fee. Union Bank of India is charging Rs. 5,700 while Central bank of India is charging Rs.5,680.
Interest Rates charged by Banks on Loan for DDA Flats Registration
| Bank | Interest & Processing Charges |
| State Bank of India | Rs. 5,050 |
| Central Bank of India | Rs. 5,680 |
| Union Bank of India | Rs. 5,700 |
| HDFC Bank | Rs. 6,600 |
| ICICI Bank | Rs. 6,600 |
| IDBI Bank | Rs. 6,600 |
Important point to Note while availing Loan for DDA Flats
While the whole idea of getting the deal financed through bank for the Registration amount may sound appealing, there is an important rider which the applicants should keep in mind. The Interest charges mentioned above are for a period of Three Months. If DDA fails to conduct the selection process within three months and delays the lottery date, the applicants would have to cough up interest charges for the further period which may range anywhere in the range of 11-14% depending on bank to bank. Applicants should keep this in kind while applying for a loan.
Read More!DDA Housing Scheme-2008
Download DDA Housing Scheme'08 Brochure and Application Form
DDA has finally posted the Brochure for DDA Housing Scheme'08 on its website. Click Here to download the DDA Scheme Brochure which contains all the details regarding the scheme including how to apply, documents to be submitted, details of flats on offer and list of banks where forms are available.
Download DDA Scheme Brochure Download DDA Housing Scheme Application Form
You need to go to DDA website to generate the online application form.
Go to the following link :
DDA Scheme Application form - 2008
You will see the window as shown below :
DDA Scheme launched
DDA Scheme -Investment Opportunity
DDA Housing Scheme -Highlights
Read More!
DDA has finally posted the Brochure for DDA Housing Scheme'08 on its website. Click Here to download the DDA Scheme Brochure which contains all the details regarding the scheme including how to apply, documents to be submitted, details of flats on offer and list of banks where forms are available.
You need to go to DDA website to generate the online application form.
Go to the following link :
DDA Scheme Application form - 2008
You will see the window as shown below :
Type your name in the box for "Applicant name" and Click generate. You if you have typed the name wrongly , click reset to type the name again.
The application form will open up in the new window on your screen. The form will have the application number and your name printed on it. You can save the form and take print of it and then fill and submit it to DDA office before 16th September.
If the DDA website doesn't open up for some reasons, you can download the brochure from link below
Download Housing Scheme Brochure -2008
Come back on this blog to read detailed analysis of the scheme and which flats should investors opt for in the scheme to get maximum gains.
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DDA Update: Housing Scheme'08 launched
DDA launches Housing Scheme'08
DDA has launched the Housing Scheme 2008. The scheme offer 5010 flats and allotment to applicants will be made through lottery system. DDA has started sale of application forms for scheme. Forms are available at DDA office at Vikas Sadan from 10:30 am to 4:30 pm. The last date of submitting application to DDA is 16th September.
Application forms are also available at Vikas sadan branch of State Bank of India and Central Bank of India and also at Nehru Place branch of Union Bank of India. Application forms are also available at selected branches of Axis Bank, HDFC Bank, ICICI bank and IDBI Bank.
The application form for DDA flats is not available online on DDA website yet.
Applicants are advised not to rush for application form as the initial enthusiasm for collecting the forms will slow down in a week's time. Anticipating huge response, DDA has printed five lakh brochures and hence shortage of forms should not arise. DDA would post the application form for direct download from the DDA website. Investment Guru readers can also download the application form from this blog once it is made available online by DDA.
More Updates on DDA Flats
DDA flats - An excellent opportunity to invest
Highlights of DDA Housing Scheme'08
Read More!
DDA has launched the Housing Scheme 2008. The scheme offer 5010 flats and allotment to applicants will be made through lottery system. DDA has started sale of application forms for scheme. Forms are available at DDA office at Vikas Sadan from 10:30 am to 4:30 pm. The last date of submitting application to DDA is 16th September.
Application forms are also available at Vikas sadan branch of State Bank of India and Central Bank of India and also at Nehru Place branch of Union Bank of India. Application forms are also available at selected branches of Axis Bank, HDFC Bank, ICICI bank and IDBI Bank.
The application form for DDA flats is not available online on DDA website yet.
Applicants are advised not to rush for application form as the initial enthusiasm for collecting the forms will slow down in a week's time. Anticipating huge response, DDA has printed five lakh brochures and hence shortage of forms should not arise. DDA would post the application form for direct download from the DDA website. Investment Guru readers can also download the application form from this blog once it is made available online by DDA.
More Updates on DDA Flats
- Of the 5010 flats on offer are 3483 one bedroom flats, 889 two bedroom flats and 352 three bedroom flats. Another 286 flats will be under the expandable category where the owner can add upto two extra storeys. The flats are priced keeping in mind the middle and low income group.
- Allotment will be done through a computerised process wherein every application after scrutiny will be allotted a random number to prevent irregularities and keep the process foolproof. The data will be fed into the computer and a draw will be carried out in the presence of judges and the media
- Results are likely to be declared nearly three months after the application process ends on September 16.
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Real Estate - DDA Housing Scheme'08
DDA flats - An excellent opportunity to invest
DDA is launching the Housing Scheme'08 on 6th August,2008. There are around 5000 flats on offer. See my post on highlights of the scheme. The question is " Should one apply for the flats under this scheme" ? Investment Guru is of the view that one should apply for the flats under the scheme. It's just like applying for an IPO in the stock markets. You are going to block Rs. 1.5 Lac of you funds and if you get allotment the gains would be significant. If you are cash starved there is another attractive option of getting the registration amount finance and wait for getting lucky in the draw.
Why is DDA Scheme attractive ?
The major attraction of the scheme is that the flats are being offered at a price which is around 30-40% lower than the prevailing prices in these localities. The chances of real estate prices going down in these location because of the lower prices offered by DDA is very low, since the number of flats on sale are quite low in comparison to the total real estate matrix of these locations. So an allotment in this scheme is going to generate significant gains for the investors. Real estate prices in locations like dwarka has seen consistent rise and has offered excellent gains to those who have applied in the 2006 Housing scheme. This time around too, people who get allotment are likely to fetch a premium in the range of 2-5 lacs on the DDA prices.
I don't have money for Registration amount ?
No problem. As soon as the scheme is launched you will see a flood of advertisements in the newspapers regarding banks and financial institutions offering loan for the Registration amount. In other words, If you don't have money for Registration or if you don't want to block your own cash reserves for this, you can avail a financing option from banks for registration amount. Banks generally come up with a scheme where they fix a Non-refundable amount for financing the Registration amount.
In 2006, Banks came with a Fixed amount of Rs. 5000 for financing the Registration amount. This year it may be bit more in view of higher interest rates. Suppose banks fixes Rs. 7000 this time around, it would mean that in lieu of putting 1.5 lacs of your own, you would pay nothing but Rs. 7000 to a bank for financing the registration amount. If you do not get allotment then Rs. 7000 would be your loss in terms of financing the deal. If you get allotment, it would a peanut considering the gains for your allotted flat.
I want to sell on allotment, Can I do so ?
There is an active market for trading once you get the allotment of flats under the scheme. So, if you didn't intended to hold on to the flat, but just wanted to grab the premium for allotment of the flat, you can sell the flat in the open market.
Related Posts
DDA Housing Scheme'08
DDA Website Read More!
DDA is launching the Housing Scheme'08 on 6th August,2008. There are around 5000 flats on offer. See my post on highlights of the scheme. The question is " Should one apply for the flats under this scheme" ? Investment Guru is of the view that one should apply for the flats under the scheme. It's just like applying for an IPO in the stock markets. You are going to block Rs. 1.5 Lac of you funds and if you get allotment the gains would be significant. If you are cash starved there is another attractive option of getting the registration amount finance and wait for getting lucky in the draw. Why is DDA Scheme attractive ?
The major attraction of the scheme is that the flats are being offered at a price which is around 30-40% lower than the prevailing prices in these localities. The chances of real estate prices going down in these location because of the lower prices offered by DDA is very low, since the number of flats on sale are quite low in comparison to the total real estate matrix of these locations. So an allotment in this scheme is going to generate significant gains for the investors. Real estate prices in locations like dwarka has seen consistent rise and has offered excellent gains to those who have applied in the 2006 Housing scheme. This time around too, people who get allotment are likely to fetch a premium in the range of 2-5 lacs on the DDA prices.
I don't have money for Registration amount ?
No problem. As soon as the scheme is launched you will see a flood of advertisements in the newspapers regarding banks and financial institutions offering loan for the Registration amount. In other words, If you don't have money for Registration or if you don't want to block your own cash reserves for this, you can avail a financing option from banks for registration amount. Banks generally come up with a scheme where they fix a Non-refundable amount for financing the Registration amount.
In 2006, Banks came with a Fixed amount of Rs. 5000 for financing the Registration amount. This year it may be bit more in view of higher interest rates. Suppose banks fixes Rs. 7000 this time around, it would mean that in lieu of putting 1.5 lacs of your own, you would pay nothing but Rs. 7000 to a bank for financing the registration amount. If you do not get allotment then Rs. 7000 would be your loss in terms of financing the deal. If you get allotment, it would a peanut considering the gains for your allotted flat.
I want to sell on allotment, Can I do so ?
There is an active market for trading once you get the allotment of flats under the scheme. So, if you didn't intended to hold on to the flat, but just wanted to grab the premium for allotment of the flat, you can sell the flat in the open market.
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DDA Housing Scheme'08
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Realty Check : DDA housing Scheme'08
DDA Housing Scheme'08 to offer 5000 flats
After successful closure of DDA Housing scheme in 2006, Delhi Development Authority has once again come up with its blockbuster Housing Scheme'08 offering flats for as low as Rs. 7 Lacs. The DDA Housing Scheme'08 is scheduled to be launched on 6th August,2008.
Highlights of the DDA Scheme
After successful closure of DDA Housing scheme in 2006, Delhi Development Authority has once again come up with its blockbuster Housing Scheme'08 offering flats for as low as Rs. 7 Lacs. The DDA Housing Scheme'08 is scheduled to be launched on 6th August,2008.
Highlights of the DDA Scheme
- The Delhi Development Authority is launching a new housing scheme, “DDA Housing Scheme -2008”, to allot about 5,000 flats on a freehold basis.
- The scheme will be open from August 6 to September 16.
- The scheme aims at providing housing for all sections of society and hence offers wide range of choice.
- There are 3483 One-bedroom flats, 889 Two-bedroom flats, 352 Three-bed room flats and 286 that can be later expanded.
- Flats will be located in Pitampura, Dwarka, Motia Khan, Paschim Vihar, Dilshad Garden, Vasant Kunj, Narela, Shalimar Bagh, Jhilmil, Nand Nagari, Peeragarhi, Sarai Khalil, Rohini, Lok Nayak and Bindapur. However, majority of the flats are located in Dwarka, Narlea and Rohini.
- Multi-storey ed flats with lifts will also be on offer at Pitampura, Dwarka and Motia Khan.
- All freehold properties, the flats are within the price range of Rs 7.2 lakh and Rs 77.8 lakh depending on size and location.
- Narela is offering the cheapest flats.
- Most expensive is a 3 Bedroom flat in Motia khan priced at 77.8 Lacs.
- Most Affordable is a single Bedroom flat in Narela at Rs. 7 Lacs.The application forms along with brochure will be available from the DDA sales counter at Vikas Sadan, almost all branches of AXIS Bank, HDFC Bank, ICICI Bank and IDBI Bank, besides the Vikas Sadan branches of State Bank of India and Central Bank of India.
- The Draw is expected to happen in December 2008 or early January 2009.
How to apply for DDA Flats ?
- The application forms along with brochure will be available from the DDA sales counter at Vikas Sadan, almost all branches of AXIS Bank, HDFC Bank, ICICI Bank and IDBI Bank, besides the Vikas Sadan branches of State Bank of India and Central Bank of India.
- The cost of the application form and brochure is Rs.100.
- The registration amount under the scheme is Rs.1.5 lac.
- The Registration amount has to be deposited along with the application form by a banker’s cheque/demand draft and no payment by cheque is acceptable.
- The applicant can have five preferences for flats of all categories.
- Applicant has to submit the self-attested copy of PAN and proof of residence.
- Those who apply under the reserve category would have to submit a certificate to that effect.
- The allotment to eligible applicants will be made through a computerised draw based on random number techniques.
- The results of the draw will be displayed on the notice board at Vikas Sadan and would also be available at http://www.dda.org.in/
Should one apply for DDA flats under the DDA Housing Scheme'08 considering the ongoing confusion over future of real estate prices in India. Does it appeal as an investment option or should one apply only if he wants to use it as a residence ? How much profit can one earn in case of allotment? Are there any funding schemes for registration amount ? We will seek replies to these questions in the next post.
Visit DDA Website
Read More!
