The DDA is likely to reduce drastically the prices of 1BHK and 2BHK flats in its upcoming housing scheme as a part of the initiative of the government to increase accessibility to housing in the capital region. This has happened after the Modi government allowed allocating substantial funds in this year’s budget for affordable housing projects, to which the DDA responded enthusiastically.
Ministry of Housing and Urban Affairs got an outlay of Rs 30,000 crore in Union Budget 2024, also including an exceptional allocation of Rs 2,000 crore for the Delhi Development Authority. The funds would provide for the completion of current residential projects and the initiation of new ones. Officials in DDA are getting ready to accelerate the work on these projects at a fast pace. As per sources in the DDA, they are proposing to build around 3,000 affordable 1BHK and 2BHK flats in Delhi soon.
Affordable Projects
DDA will construct flats in Delhi’s different locations and will sell those at affordable prices. Prices of such flats could be in the range of Rs 20 lakh to Rs 80 lakh. More significantly, with money earmarked in the budget, the DDA could complete 10 projects in the Yamuna’s flood-affected areas. Many of these projects are yet to take off as a result of the floods last year. It is also envisaged to develop the Mayur Vihar Nature Park on 982 acres of land along the Yamuna, near the route from the Nizamuddin Bridge to the DND Flyover.
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Nature Park and Eco-Tourism
While the Mayur Vihar Nature Park will be spread over 982 acres near the route of the DND Flyover from Nizamuddin Bridge, with a projected cost of Rs 82.2 crore, about 74 acres will be dedicated to an eco-tourism area with an allocation of Rs 86.7 crore earmarked for it. These initiatives, if carried through effectively, have the ability to make housing in Delhi more accessible and desirable by enhancing recreational and environmental facilities in the region.
Dates of Booking
DDA will start booking of the flats soon at affordable rates under its new residential scheme. Till then, the housing scheme included only 1BHK flats whose price was fixed to be from Rs 11 lakh and Rs 25 lakh for Economically Weaker Sections. Now DDA has decided to open booking for flats at lower and more affordable rates for everybody.
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