This story is from August 21, 2019

Delhi Development Authority cuts rate for EWS flats in Narela

Delhi Development Authority has slashed the price of its flats meant for the economically weaker sections (EWS) by 40% and plans to launch a new scheme for them from August 30.
DDA cuts rate for EWS flats in Narela
Delhi Development Authority
NEW DELHI: Delhi Development Authority has slashed the price of its flats meant for the economically weaker sections (EWS) by 40% and plans to launch a new scheme for them from August 30.
Of the 17,922 apartments that DDA had offered in its Housing Scheme 2019, 7,700 flats, situated in Narela, were earmarked for the EWS. The land-owning agency, however, received only 1,500 applications for them and as a result, took such flats out of the scheme.
The EWS units, which were previously priced around Rs 17 lakh, are now being offered at a concessional rate of Rs 12 lakh.

As part of the new scheme, DDA is offering 6,536 flats in Narela’s Pocket 1A, 1B and 1C priced between Rs 10.8 lakh and Rs 12.2 lakh. The plinth area of such units is between 35.4 square metres and 37.3 square metres. The authority also plans to offer 960 flats, with a plinth area of 29.7 square metres, located at G7/G8 of Sector-V, Narela, at Rs 9.5 lakh.
The online application submission for the new scheme will start from August 30. With few takers for its flats in Narela, the land authority is coming up with different strategies to sell them. One housing scheme after another, DDA is finding it difficult to sell the flats in Narela. With its recent housing scheme receiving a lukewarm response, DDA ended up allotting only 8,438 flats out of 17,922 flats initially offered.

Of them, more than 3,000 units have already been surrendered by allottees and all such flats are in Narela.
While DDA is now offering EWS flats at a huge concession and expects more buyers to come forward, it is thinking of different strategies to sell its one-bedroom and two-bedroom flats in Narela, which too have not found many buyers.
For the two-bedroom flats in Narela, Delhi Police has come to DDA’s rescue. “We have offered the two-bedroom flats in Narela to Delhi Police and they have agreed to take them,” DDA vice-chairman Tarun Kapoor told TOI.
The only problem for the agency now are the nearly 2,000 one-bedroom flats in Narela, for which there seem to be no takers, including bulk buyers such as PSUs. Kapoor said that DDA is brainstorming to come up with a strategy to sell the one-bedroom flats in Narela.
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