NEW DELHI: Even as more than 10 lakh applicants continue to wait for the lucky draw results for 25,000 housing units Delhi Development Authority (DDA) housingscheme, real estate experts feel there is no need for despair for those who miss the opportunity. For, there are more affordable and attractive options in vicinity to the DDA dwelling units, particularly by the Haryana Urban Development Authority (HUDA).
“A DDA unit at the rate of Rs 6,000 to 7,000 sq ft in locations like Najafgarh, Narela or Rohini can actually appear a costly affair if we compare it with the Haryana government’s scheme in adjoining NCR zones,” said Rohit Modi, president, NCR chapter of CREDAI, the apex body for private realtors in the country.
“HUDA’s affordable houses in the neighbourhood are cheaper by near 50-60%,” Modi added.
HUDA’s scheme is offering housing units at the rate of Rs 3,600-4,000 per sq ft in NCR locations like Gurgaon, Sohna Road, Sonipat, Faridabad and Palwal. Yet another factor that goes in favour of HUDA is the resale of a property.
“While in DDA flats, an allottee cannot sell his or her unit before five years after possession, the HUDA flats can be resold one year after the possession,” said Navin Raheja, chairman of the National Real Estate Development Council (NAREDCO).
Raheja also mentioned that HUDA scheme has a provision to set prices of the unit on carpet area while Indian developers have a practice of selling units by charging on the surface area. “Charge on the carpet area would help buyers save around 25-35% of the prices over other private or DDA units.” According to Santosh Kumar CEO, operations, in real estate consultant firm JLL, the demand for affordable housing fromthe middle and lower middle class is so high that absorption for both the DDA flats and other affordable housing projects at these locations will be massive.
“For people who work in the primary locations of the National Capital Region (NCR), DDA flats would be a better option but for industrial employees and other buyers residing and working in outskirt areas like Sonipat or Panipat, HUDA’s projects will be a better option,” said Kumar. Flat maintenance is another key area where HUDA may have scored over its Delhi counterpart.
While maintenance issues routinely plague DDA’s erstwhile dwelling units, the Haryana authority has been quick on the draw to rope in private developers to deal with the prickly problem. “In return, the developer would be allowed to develop 4% of the land for commercial purposes,” said Modi of CREDAI.