In a major development concerning affordable housing in Delhi, the Delhi Development Authority (DDA) has announced plans to significantly lower the rates of 1BHK and 2BHK flats under its upcoming housing scheme. This decision comes as part of the government’s initiative to make housing more accessible in the capital region. Following the allocation of substantial funds in this year’s budget by the Modi government for affordable housing projects, DDA has expressed keen enthusiasm.

Over the next two years, DDA aims to construct thousands of flats across various sectors in Delhi, offering them at rates considerably lower than current market prices. According to officials, these flats could be priced between Rs 20 lakh to Rs 80 lakh, marking a substantial reduction from existing market rates. This move is expected to benefit thousands of prospective homeowners and enhance accessibility to affordable housing options in Delhi-NCR.

In the Union Budget 2024, the Ministry of Housing and Urban Affairs has been allocated Rs 30,000 crore, with a notable allocation of Rs 2,000 crore earmarked specifically for the Delhi Development Authority (DDA). This funding is intended to support the completion of ongoing residential projects and initiate new ones. DDA officials are currently engaged in extensive preparations to expedite these projects. According to DDA sources, approximately 3,000 affordable 1BHK and 2BHK flats are slated to be constructed in Delhi in the near future.

Following the allocation of funds, the DDA is expected to present its proposal for new flat constructions in a meeting with ministry representatives and officials. Additionally, bookings for affordable 1BHK flats in Narela and other locations are set to commence within the next six months. These bookings will be accessible online through the DDA website.

Buying a house in Delhi – Easy or Not?

The question of whether buying a house in Delhi is challenging or straightforward hinges significantly on recent developments. The union budget allocation includes provisions that will breathe new life into 10 DDA projects located in the Yamuna floodplains. Many of these projects had been delayed following last year’s flood. DDA officials are optimistic that this funding will accelerate construction activities, particularly for projects like the Mayur Vihar Nature Park and the Eco-tourism area.

The Mayur Vihar Nature Park, spread over 982 acres near the DND flyover route from Nizamuddin Bridge, is slated for development at a cost of Rs 82.2 crore. Simultaneously, an eco-tourism area covering 74 acres will be developed at an estimated cost of Rs 86.7 crore. These initiatives are expected to enhance recreational and environmental amenities in the region, potentially influencing the accessibility and desirability of housing options in Delhi.

The DDA’s new housing scheme will soon commence the booking process for flats at affordable rates, open to all individuals. Previously, the scheme primarily offered one-room flats for the economically weaker section (EWS), priced between Rs 11 lakh to Rs 25 lakh. However, the DDA has now expanded its initiative to allow booking of flats at low and affordable rates for all prospective buyers.