‘ Not- so- overwhelming’ demand in DDA scheme
As many as 8.5 lakh applications have been received by DDA for it flagship “Housing Scheme 2014”, with the housing authority on Sunday attributing the “not- s o- overwhelming” response to the five- year lock- in period imposed on the ownership of the flats.
“The total number of appliactions received so far stands at 8.5 lakh. Some of the bank branches are located in remote and farflung areas, so the data reached our office late, after the closing date of the scheme,” an official said.
The programme which offers over 25,000 flats across various categories, ranging in price from ` 7 lakh to ` 1.2 crore, closed on October 15, by which time 7.5 lakh applications were received.
The official said that though the number is likely to go up with more data on the way from other farflung branches, the “variation now will be very minor”.
“The variation would not be very much now and the figure would hover around 8.5 lakh itself, but the final picture would emerge by Diwali weekend, when we would publish the names of all the successful applicants on our website,” she said.
Although about 17 lakh brochures were sold through DDA counters and the branches of its various empanelled banks, officials ascribed the “lukewarm response” to the scheme to the lock- in period and the nature of flats on offer.
“The primary reason for the not- so- overwhelming response, despite selling so many brochures, could be the five- year lock - in period for the ownership of the flats, which we have introduced for the first time... Besides, most flats are of lower range, so that could be another factor,” the official said.
The lock- in period mandates a duration of at least five years before the ownership of the flats is handed over to the allottees. This latest housing scheme was launched on September 1. The last date for application was initially set for October 9 before it was extended till October 15.
The housing authority is now gearing up for the draw of lots.