How To Buy A DDA Flat In Resale?
The Delhi Development Authority (DDA) comes out with housing schemes every year or two to cater to the growing housing needs of the citizens. Buyers, who have missed the chance can buy these properties for resale.
Benefits of investing in Old DDA flats
Old flats in DDA colonies are a good buy as all of these areas have come up to be a prominent real estate hub such as Dilshad Garden, Janakpuri, Dwarka, Rohini, etc., and have witnessed huge price appreciation in past years due to infrastructure development.
Since new supply of properties in the key areas of national has been slow, end-users looking for an upgrade often prefer these resale properties to invest in. Also, DDA flats are leasehold properties and can be converted into a freehold after paying minimum charges. Banks and NBFCs do not mind giving out home loans for old DDA flats, provided the documentation is complete.
Documents required for buying DDA property
A seller needs to possess these documents in original or copies to prove his ownership:
Documents required for transferring DDA property to the new owner
Passport
Voter ID card
Aadhaar card
Nationalised bank passbook
Electricity bill, etc.
Once all these documents are collected, approach the DDA for a mutation certificate.
Check this before investing-