DDA is not the Only Option. It’s Much Expensive
The news is for all those who missed the opportunity to own a house through DDA’s housing scheme. Further, there are more than ten lakh applicants who are waiting for the lucky draw results for 25,000 housing units under the policy. Many real estate experts feel that those who couldn’t be a part of the lucky draw need not worry, since there are so many affordable and attractive Property in Delhi NCR options available in the vicinity. The Haryana Urban Development Authority (HUDA) offers the opportunity to own better housing.
Rohit Modi is the head of the National Capital Region (NCR) chapter of Confederation of Real Estate Developers’ Association of India (CREDAI). He says that a unit from DDA costing INR 6,000 to 7,000 per sq ft in locations like Najafgarh Property, Narela or Rohini can indeed be a costly affair. It is in comparison to the Haryana government's scheme in the neighboring NCR zones.
HUDA’s Houses are a Much Cheap
Rohit also added that HUDA's affordable Properties in Delhi NCR the adjoining vicinities are cheaper by nearly 50-60 percent. HUDA's scheme is providing Property units at the cost of INR 3,600-4,000 per sq ft. The covered locations involve Faridabad, Gurgaon, Palwal, Sohna Road, and Sonipat for properties. Moreover, another factor favoring HUDA is the resale of the property.
There lies a huge difference in the schemes of both the authorities. An allot cannot sell his / her unit before five years after possession, whereas, in HUDA’a scheme, the allot is allowed to sell his / her flat just after a year’s possession. Navin Raheja, who is the chairman of the National Real Estate Properties Development Council (NAREDCO) reveals the fact.
He further mentioned that the scheme under HUDA has a clause to set the cost of the unit on carpet area. However, Indian developers follow a practice of selling Delhi Properties in these units by charging on the surface area. He believes that the charge on the carpet area would help buyers to save about 25-35 percent of the prices over other private or DDA units.
Another Opportunity for Lower and Middle Class
As per the CEO, operations, in JLL, Santosh Kumar says that the requirement for cheap habitation from the people belonging to the middle and the lower middle class is quite high. It has led to the absorption for both the DDA flats and other housing projects which are affordable at several locations.
DDA flats would be a good option for the people working in the chief areas of NCR. Nevertheless, those who work in outskirt areas like Panipat or Sonipat, HUDA’s projects are a better option. Maintenance of flats is another significant area where HUDA might have scored more than the Delhi counterpart.
While maintenance is a huge issue for DDA, as its older units are not in a healthy state. Haryana, on the other hand, is quick in resolving such problems. “A good thing is that the developer would be allowed to develop four percent of the land for trading purposes," said Modi. Thus, all those who couldn’t own a Property in Delhi can look for the same in Haryana. It's cheaper there and easy to possess.
For more information visit here : http://www.buyproperty.com/property-in-delhi
The news is for all those who missed the opportunity to own a house through DDA’s housing scheme. Further, there are more than ten lakh applicants who are waiting for the lucky draw results for 25,000 housing units under the policy. Many real estate experts feel that those who couldn’t be a part of the lucky draw need not worry, since there are so many affordable and attractive Property in Delhi NCR options available in the vicinity. The Haryana Urban Development Authority (HUDA) offers the opportunity to own better housing.
Rohit Modi is the head of the National Capital Region (NCR) chapter of Confederation of Real Estate Developers’ Association of India (CREDAI). He says that a unit from DDA costing INR 6,000 to 7,000 per sq ft in locations like Najafgarh Property, Narela or Rohini can indeed be a costly affair. It is in comparison to the Haryana government's scheme in the neighboring NCR zones.
HUDA’s Houses are a Much Cheap
Rohit also added that HUDA's affordable Properties in Delhi NCR the adjoining vicinities are cheaper by nearly 50-60 percent. HUDA's scheme is providing Property units at the cost of INR 3,600-4,000 per sq ft. The covered locations involve Faridabad, Gurgaon, Palwal, Sohna Road, and Sonipat for properties. Moreover, another factor favoring HUDA is the resale of the property.
There lies a huge difference in the schemes of both the authorities. An allot cannot sell his / her unit before five years after possession, whereas, in HUDA’a scheme, the allot is allowed to sell his / her flat just after a year’s possession. Navin Raheja, who is the chairman of the National Real Estate Properties Development Council (NAREDCO) reveals the fact.
He further mentioned that the scheme under HUDA has a clause to set the cost of the unit on carpet area. However, Indian developers follow a practice of selling Delhi Properties in these units by charging on the surface area. He believes that the charge on the carpet area would help buyers to save about 25-35 percent of the prices over other private or DDA units.
Another Opportunity for Lower and Middle Class
As per the CEO, operations, in JLL, Santosh Kumar says that the requirement for cheap habitation from the people belonging to the middle and the lower middle class is quite high. It has led to the absorption for both the DDA flats and other housing projects which are affordable at several locations.
DDA flats would be a good option for the people working in the chief areas of NCR. Nevertheless, those who work in outskirt areas like Panipat or Sonipat, HUDA’s projects are a better option. Maintenance of flats is another significant area where HUDA might have scored more than the Delhi counterpart.
While maintenance is a huge issue for DDA, as its older units are not in a healthy state. Haryana, on the other hand, is quick in resolving such problems. “A good thing is that the developer would be allowed to develop four percent of the land for trading purposes," said Modi. Thus, all those who couldn’t own a Property in Delhi can look for the same in Haryana. It's cheaper there and easy to possess.
For more information visit here : http://www.buyproperty.com/property-in-delhi