DDA may drop 5-years lock-in clause for its 2017 housing scheme

NEW DELHI: In the relief of the thousands who bought flats under the Delhi Development Authority's 2014 housing scheme, they may be able to sell their houses without having to wait out a period of five years.
The land agency officials said on Tuesday that a proposal drop the lock-in period for resale of flats will be discussed soon.

DDA decided in May not to have a lock-in clause for its 2017 housing scheme, launched a few days ago. The five-year waiting period was introduced in 2014 to prevent speculators and investors from applying for allotment of flats, freeing them instead for genuine home seekers.

JP Aggarwal, principal commissioner, land disposal and housing, DDA, confirmed on Tuesday that the agency was aware of the demand to drop the clause from the contracts of the 2014 allottees and that a meeting to bring about parity between the two housing schemes would discuss the proposal.

If the lock-in clause is reversed, those who were allotted flats will have to make an immediate payment of around Rs 1.33 lakh. "Under the earlier contract, the allottees were required to pay 10% of the total cost after a period of five years. If the lock-in clause is removed, they will have to pay the amount right away," said Aggarwal.

One of the main grouses of the allottees is the lack of basic civic infrastructure in these colonies. "However, we are forced to live here because we can't sell our houses for five years," said Vaibhav Puggal, president, RWA, Rohini, Pkt 5, Sector 35.

RWAs of Rohini and Narela, where most 2014 flats are located, plan to write to Union urban development minister M Venkaiah Naidu and lieutenant governor Anil Baijal on the woeful infrastructure in their complexes. "There are no local markets, the approach roads are in a bad shape, and with no street-lighting, it unsafe to walk on the main road past evening," said Pratap Singh, a Narela G-2 resident.

Residents also complain of the poor quality of drinking water. "Water is being supplied through tankers, so how will DDA meet the water requirements once new allottees come here?" asked Sanjay Saini, treasurer, RWA, Narela G2. DDA officials said that efforts are being made to ensure proper water supply before new allotments are made. "Our engineering wing is in talks with DJB to start supply water in these colonies," said Aggarwal.

RWAs have urged allottees to write to Baijal and DDA about their problems. "It has been a big loss for us since our property value hasn't increased in the past two years. We want DDA to adjust our repayment balances and give us some concessions," said Puggal.

Source- ET Realty