DDA to refund registration money within a month

The DDA has decided that unsuccessful applicants, who don’t get a flat in the draw of lots for the 2014 housing scheme, will be refunded the registration amount of Rs. 1 lakh within one month.

Earlier the DDA used to take at least three months to refund the money.

In its housing scheme’s brochure, the land development agency had clarified that it would not pay any interest to applicants on the registration money for up to three months.

The registration amount is Rs. 1 lakh, except for those applying under the Economically Weaker Sections (EWS) category, for which the registration amount is Rs. 10,000.

The period of one month will be counted from the date of closure of the scheme, October 15. This means that applicants will get their money back within November 15, instead of February.

Also, those who have taken the amount on loan from banks might have to pay lesser interest as the money would be transferred to the bank directly within a month.

The DDA generates a substantial amount of money from the registration amount it collects through interest.

The money is kept in a bank as fixed deposit and DDA earns interest from it. This amount is used for DDA’s housing and other projects.

It was DDA vice-chairman Balvinder Kumar who hit upon the idea of shortening the period of refund. “Earlier the decision was to refund the money within three months, but I thought why should people unnecessarily keep their money deposited and lose interest? That is why I have decided that now the amount shall be returned within a month,” Kumar told Hindustan Times.

According to the housing scheme’s brochure, DDA is supposed to pay a simple interest at the rate of eight per cent per annum to unsuccessful applicants if the amount is refunded after a period of three months.

The housing scheme closes on Wednesday at 5pm and DDA expects to receive about seven lakh applications for the 25,034 flats on offer.

Article Source http://www.therealestate.in/2014/11/dda-has-announced-to-refund-registration-amount-in-1-month.html

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Changing Rural Face Of By The Real Estate Developers In India

The field of architecture has developed with the latest technology that is infused today in the construction methods. There are billions of dollars invested to set up great structures. There is a lot of toil involved in bringing up these structures. Today, several eminent real estate developers are approaching India from both the native land as well as from the global places. In India, there are several types of real estate developments going on for the increase in the demand of apartments and houses. There are different types of real estate developments going on. The wonderful beauty of the God’s own country has resulted into the growth in the settlement of the maximum people in different cities.

This scenario is under change for the last few years as there are huge numbers of developments going on. You can see that the best real estate developers in the country developing the different places in the cities or in the suburbs. The increasing industrial set-ups nearby the suburbs and in the rural areas have resulted in the growth of the amazing structures. The rural India is getting a new look for the revolution that is entering the land. There are small scales as well as large-scales developments going on.

The elite designs of the building structures have changed the scenic beauty of the place. The technologically improved age has all improved ideas to give shape to the best structures. There are different types of innovative concepts are used by the mega builders like the Birla, Virani and others in the country. The structures are little different and unique in style. The complexes and the malls that are built by the real estate giants are not only used for one single purpose, but are rather used for multiple features. There are shops for clothes, chocolates, electronic gadgets, food counters and other things available under one single roof. This is easy for the residents, as they will get all types of facilities in the same place. They can easily fetch them needful things like groceries, medicines, food items, clothes and at the same time can get themselves entertained at the cinema halls of Inox, Fame, Big Cinema and others. Recreation is an essential part of the modern day life as that is important to make the life go in a usual beat, but if that is not provided and then there are problems sure to occur.

Think how difficult will it be to run from one place to another for meeting up different types of needs. The real estate developers in India are involved in doing these wonderful projects as these are producing better facilities for the residents. Today, it is not only the cities that are developing, but the rural areas are also developing equally. The industrial growth is attracting the majority of population to the remote areas that are fast developing.

The real estate projects in India are also developing in order to make better habitats in all the places, where there is a need for it.

Tips for Successful Real Estate Investment in India

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DDA’s much-delayed draw of lots likely on Monday

The much-delayed draw for the Delhi Development Authority’s (DDA) housing scheme 2014 could finally take place on Monday, November 24.

The Delhi Development Authority had initially announced the tentative day for holding the draw as November 5 but it was postponed to November 17.

Earlier, the Delhi Development Authority had failed to hold the draw on November 17 too after its trial runs were not found successful in wrapping up the whole process within two hours.

The enormous data, with a record number of 10,08,700 applications for the scheme, resulted in mock draws taking up nearly eight to nine hours.

“We have finally managed to complete the process within two hours. We will hold a demonstration on Saturday and the draw is most likely to be held on November 24,” said a senior DDA official who did not wish to be identified.

“The number of applications received, number of flats, categories and different parameters are resulting in the cycle of draw taking too much time to complete,” the official said.

“The banks also sent us the application data very late because of which we did not get much time to prepare for the draw and the whole process was delayed,” he added.

“We have been working 24×7 to ‘tune’ the database so that the process of DDA Draw Result 2014 can be held within two hours,” he said.

The Delhi Development Authority had earlier said that the trial for the draw was taking inordinately long and the process needed more time for optimization of data.

It had also called in technical experts to check the process and give their opinion so that during the final draw, there are no technical problems.

The Delhi Development Authority’s DDA housing scheme 2014 is the land development agency’s biggest scheme ever with 25,034 flats on offer. The scheme was launched on September 1 and closed on October 15, after an extension.

While initially, the Delhi Development Authority had not received many applications, the extension of the date resulted in the number of applications touching a record high.

For more information visit DDA Draw Result 2014

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DDA website crashes after people rush for Application forms, approach authorized banks now

New Delhi: The application forms for new housing schemes of Delhi Development Authority (DDA) have been removed from the official website. The website repeatedly crashed due to massive response to the housing scheme. However the online forms would be available on the sites of the authorised banks. The forms for the housing scheme went on sale from Monday.

“Application brochure/form can be collected from the branches of the following banks. Also brochure/form can be downloaded from the websites of these banks. Applicants can also apply online through the websites of these banks,” DDA said on its website.

The DDA website received a total of 11 lakh hits on the day of the launch and 18.25 lakh hits in its total on Monday and Tuesday. The DDA officials have already initiated the process of upgrading its server to manage larger traffic.

“Since, our server cannot handle the extremely heavy online traffic; we are redirecting the services to banks. Our homepage has a new link DDA Housing Scheme 2014‘ lower down the website, which directs the online users to our 13 empanelled banks and URLs,” said VS Tomar, director of systems at DDA.

DDA launched it largest-ever scheme the ‘DDA Housing Scheme 2014′ offering 25,034 flats, out of which 22,627 are one-bed room apartments, a major draw for people this year.

The new scheme which will be open till October 9, offers flats ranging from Rs. 7 lakh to Rs. 1.2 crore across various categories, viz – EWS, LIG, MIG, Hig, Janta flats and one-room apartments.

Visit here and check DDA Draw Result 2014

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DDA 2014 Housing Scheme: Application Forms Removed From Website

Delhi Development Authority (DDA) has removed the application forms for its new housing scheme from its official website. DDA’s website had crashed repeatedly due to a massive response to its housing scheme. Now the online forms would be available on the sites of the authorised banks, DDA said.

The forms for the housing scheme went on sale from Monday.

“Application brochure/form can be collected from the branches of the following banks. Also brochure/form can be downloaded from the websites of these banks. Applicants can also apply online through the websites of these banks,” DDA said on its website. (Also read: DDA Housing Scheme 2014: Should You Apply?)

According to DDA, its website received a total of 11 lakh hits on the day of the launch and 18.25 lakh hits in total in the first two days (Monday and Tuesday).

“Since, our server cannot handle the extremely heavy online traffic, we are redirecting the services to banks. Our homepage has a new link ‘DDA Housing Scheme 2014‘ lower down the website, which directs the online users to our 13 empanelled banks and URLs,” said VS Tomar, director of systems at DDA. (Read: DDA Housing Scheme 2014 Opens: 10 Things to Know)

The official said that DDA has already initiated the process of upgrading its server to handle larger traffic.

DDA launched it largest-ever scheme — the ‘DDA Housing Scheme 2014′ on offering 25,034 flats. The scheme, which will be open till October 9, offers flats ranging from Rs 7 lakh to Rs 1.2 crore across various categories.

The land agency has made provisions for live viewing of the draw on DDA Draw Result 2014

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DDA Housing Scheme 2014: Draw of lots for DDA scheme likely on Nov 24

The Delhi Development Authority (DDA) received over 10 lakh applications for the flagship ‘Housing Scheme 2014′. The much delayed housing scheme had scheduled the tentative date for holding the draw of the lots for the new scheme on November 10, later it was shifted to November 14. And now the DDA Draw Result 2014 could finally take place on November 24.

The enormous data, with a record number of 10, 08,700 applications for the scheme, resulted in mock draws taking up nearly eight to nine hours. The scheme was launched on September 1 and received tremendous response from people. This also resulted in crashing of the official website on the opening day.

The authority had said earlier blamed the bank for sending them the data late. They said that the trial for draw was taking long time as the process needs more time for the optimization of the abundant amount of the data. Considering different parameters such as the huge number of applications received, number of flats, categories resulted in the draw to take too much time for the completion of the process. Also, the extension of dates has resulted in considerably more number of applicants.

The housing scheme offers over 25,000 flats across various categories, ranging from Rs 7 lakh to Rs 1.2 crore. 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 scheme offers 25,034 flats across various categories, viz. – EWS, LIG, MIG, HIG, Janta flats and one-room apartments. The 22,627 one-bed room apartments was a major draw for the people this year.

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DDA Housing Flats Lucky Draw Result 2014 Winners List

Delhi Development Authority published Housing Flats Lucky Draw results. You can check DDA Housing Scheme Flats Lucky Draw Winners List online by name wise.

DDA Flats Lucky Draw Winners List 2014 Name Wise

Delhi Development Authority is going to announced Housing Flats Lucky Draw Results 2014 very soon (expected on 14th November 2014). The Delhi Development Authority has been launched largest Flat/House allotment Scheme in India. All types of upper class, idle class and economically very weak zone peoples take participate in this scheme. At presently this scheme (Lucky Draw scheme) has been launched and total 25,034 flats were opened for sale. Around all flats are located in various locations of NCR area. A large number (more than 10 lacs) of peoples have been applied for this scheme. Now this time all those peoples are eagerly waiting for publishing the results.

The draw result will be published online on DDA official website which is www.dda.org.in. The DDA Draw Result 2014 lucky draw winners list will be available online on the official website.

DDA Housing Flats Lucky Draw Result Winners List

We are trying for collect more details. If you have any issue then add a comment on below box. We will solve your issue on next updates. We will update this post after few hours with latest updates. You can bookmark this page and check regularly.

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Court asks DDA to check exploitation of housing schemes

Even as the applicants of the mega DDA Housing Scheme-2014 keenly await the draw of lots for the Delhi Development Authority’s (DDA) biggest such scheme till date, a Delhi court has expressed concern over how the entire system of allotment of flats is exploited by some agency officials and the way “property dealers/ touts have access in DDA office at their whims and fancies” to get the manipulation done.

“It is unfortunate that the entire system of allotment of flats has been exploited and misused by some of the allottees and property dealers and the entire allotment process requires a deeper scrutiny to ensure that benefit of allotment reaches the genuine applicants,” said Special CBI Judge Anoop Kumar Mendiratta.

ASJ Mendiratta expressed his concern while deciding a case of scam in a 1996 housing scheme of DDA for allotment of flats under the Self Financing Scheme wherein possession letters of 12 DDA flats at Kondli Gharoli here had been given to allottees on forged bank challans, without the actual payment being made causing a loss of Rs.1,06,46,063 to the DDA.

Treating the case as tip of an ice-berg, the court directed that “necessary administrative guidelines be issued by Vice-Chairman, DDA, to ensure proper cross-checking and verification of challans submitted for payment of cost of the flats at level of AAO/AO to avoid repetition of similar scam.”

“Vice-Chairman, DDA, is accordingly directed to take necessary action in the matter and action taken report be placed before this court within three months,” ASJ Mendiratta said in his 364-page order.

The court also directed the V-C to conduct a special audit for SFS Scheme-1996 by an independent agency to rule out any more cases of fraud.

In the instant case, the court sentenced Gurdas, an Upper Division Clerk (Dealing assistant-SFS, Housing accounts in DDA) and Raju Agarwal, a property dealer, to four and five years’ imprisonment respectively. It, however, acquitted V.P. Anand (Accounts officer, SFS-DDA), S.K. Kaushik (Assistant Accounts Officer) and Gurnam Chand (Assistant SFS Housing, DDA) as the CBI failed to prove their roles.

The V-C has, however, been directed to conduct departmental inquiry against those acquitted for the negligence on their part.

The CBI’s case was that under the SFS scheme, the DDA had invited applications from general public for allotment of flats from August 8 to August 20, 1996. At the initial stage the applicants were to deposit Rs.50,000 and flats in Kondli Gharoli here were allotted by DDA Draw of lots on December 31, 1996.

The CBI had further said that Gurnam was the custodian of files of SFS flats. In 1997, Raju purchased allotment papers from the successful allottees directly or through agents since the allottees were not in a position to make the complete payment.

The accused fabricated bank challans showing the cost of flats have been deposited. On the basis of forged documents, possession letters of 12 flats were issued to him.

The fraud came to light when purchasers of some flats found that the original allottees had not deposited the cost towards the flat. They asked the property dealers to return their money and filed complaints against them.

The court was of the view that the manner in which some of the allottees had applied for registration and allotment of flats in DDA (SFS Scheme-1996) brings out serious irregularities adopted by applicants to seek allotment and earn profits out of the allotments since the applications had been financed through property dealers/financiers and the applicants neither had the capacity to pay for the allotted flats nor intended to use the same for personal use.

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DDA Housing Scheme 2014 Results

New Delhi: The wait is not yet over for DDA Housing Scheme applicants as the results of the flagship scheme will take more time to be declared.

The tentative date for draw of the lots for the new scheme, which offers over 25,000 flats across various categories, ranging from Rs 7 lakh to Rs 1.2 crore, was November 05. However, it is now being scheduled for November 10.

Scheme closed on October 15 and has received over 8.5 lakh applications.

The eagerly-awaited DDA Draw of lots for the scheme can be seen online as the housing authority has decided to webcast the entire event.

The webcast would be available for “unlimited” number of online users through a YouTube channel.

Online visitors with partial or complete visual impairment can also easily access Delhi Development Authority’s official website as the portal has been made disabled-friendly.

The ‘DDA Housing Scheme 2014’ was launched on September 01 and the last date earlier was earlier decided as October 09 but on account of overwhelming response and intervening festive season, DDA had extended the last date of the scheme till October 15.

The DDA website had crashed within a few hours of its launch on September 01, prompting authorities to upgrade its server to meet the “exponentially increased user traffic”.

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Goa Property Market Lures Investors

Goa’s pristine beaches not only attract tourists, but are a haven for home seekers as well. Real estate brokers estimate that residential property in Goa commands high rentals along with good resale value. A well located, sea-facing apartment in Goa can get the owner as much as Rs 1 lakh/ month.

A construction boom has swept all over Goa. Many villas and apartments (on freehold basis) are coming up in the vicinity of Panjim, Mapusa and Calangute beach. Prominent real estate developers have announced some promising projects the city. Big players like DLF and Parsvnath have already launched exclusive residential projects in the city. Along side, builders like Acron (which caters to the select holiday-home buyer group) Araujo Home Makers, Sanatan Financers & real estates Pvt. Ltd have also commissioned some interesting projects in Goa. Real estate developers, Jai Bhuvan, are coming up with six luxury residential projects in Porvorim and Nerul.

Commercial property in Goa is also doing well. The city hosts some of the best five star properties. Small hotels also do good business as a substantial number of tourists flock the city all year round. Pentagon Arcade, by Jai Bhuvan developers, is a prominent hotel space. It includes showrooms (of the size of 120 sq mts and 200 sq mts) on the ground and first floor. Additionally, the developers have grand plans for a lavish conference hall on the sixth floor. Beside this, Sanatan Financers & Real Estate Pvt Ltd are coming up with a luxury resort called Kohinoor at Sirvoi. Another property developer Chowgule Real Estate and Construction Pvt Ltd has plans for a business centre at Miramar

All these facts just endorse that Goa Real Estate segment is already sought after. Areas like Anjuna, Candolim, and Calangate are the new zones of residential property. Soon the legalisation of casinos will bring in more revenue. Goa is about to spark off on the global investment markets. New property projects are launched every other day. Investments are pouring in from local people, HNIs, NRIs and developers and this makes Goa lucrative for everyone.

You might also like  Brys Group | Brys City | Brys City Noida

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