New Delhi: Delhi Development Authority (DDA) has seen significant profits from the DDA Housing Scheme in 2023-24. Encouraged by this success, DDA is preparing to launch the housing scheme again this year. The scheme is expected to be launched around Diwali, with 150 HIG and MIG flats included as part of the Festival Special. Most flats will be located in Narela and Dwarka. DDA has earned substantial revenue from the previous scheme and is now gearing up to surpass it in 2024-25. According to DDA officials, in 2023-24, DDA sold 7,978 flats under the housing scheme, generating revenue of ₹2,803 crore. This has been the highest sales so far.
In 2023-24, DDA introduced premier flats for the first time under its housing scheme. This included Super MIG flats such as Penthouse. Additionally, HIG and MIG flats were also introduced. Flats in Dwarka Sector-19B and Dwarka Sector-14 were auctioned for the first time online. DDA received prices higher than the reserve prices for these flats. The housing scheme also received good response in Lutyens’ Delhi and Rohini. DDA’s housing scheme has not been receiving a good response since 2016-17. Before that, in 2015-16, DDA generated revenue of 1500 crore rupees from the housing scheme. After that, there has been a continuous decline in revenue.
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What’s new in the scheme
DDA is preparing various plans to increase sales in the upcoming housing scheme. They are improving their marketing strategies and working on sample flats. According to officials, in the previous scheme, they offered many flats at discounted rates. Due to the implementation of the Model Code of Conduct, further progress on that scheme was not possible. Now, they plan to expand this discount scheme. Under this, the general public may receive a 15% discount on flats in Narela, while government employees could get a 25% discount. With a 15% discount, the flat prices could range around 85 to 87 lakh rupees, whereas with a 25% discount, the range could be around 75 to 77 lakh rupees. According to officials, this time they will also focus on old flats in the housing scheme, hence the discounts being offered.
DDA has reported a profit of ₹535 crore in 10 years
After receiving excellent response to the housing scheme, DDA has turned profitable after a decade. DDA has achieved profits in 2023-24 with revenue of ₹535 crore, the first time since 2012-13. According to information, DDA earned revenue of approximately ₹7696 crore in 2023-24, compared to ₹4392 crore in 2022-23. Now, for the fiscal year 2024-25, DDA has increased its target to ₹9182 crore
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