A DDA notification said that under the latest scheme, registration will be open for 40 High Income Group (HIG) flats in Jasola, 200 Middle Income Group (MIG) flats in Dwarka and Narela.

The Delhi Development Authority (DDA) is all set to open the online registration for over 5,500 flats today at 5 PM. These registrations, which will open on June 30 and will end on July 10, are part of DDA’s FCFS Phase IV of the housing programme under which houses will be allocated in Jasola, Dwarka, Loknayak Puram, Rohini, Siraspur and Narela.

Approximately, there are 13,000 unsold units, and 5,500 flats under the Phase IV housing project, according to a DDA notification.

The notification further added that under the latest scheme, registration will be open for 40 High Income Group (HIG) flats in Jasola, 200 Middle Income Group (MIG) flats in Dwarka and Narela.

As per the notification, 1 BHK flats are available in Rohini, Loknayak Puran, and Sirsapur areas. In Rohini, 1,704 flats are available, while 140 flats are available in Loknayak Puran.

In Dwarka, the registration will open for 2 BHK flats and only 50 flats are up for sale. In Jasola, 41 3-BHK flats are available. In Narela, 3,562 flats in 1, 2, 3 categories are available, according to a report in Hindustan.

The report added that EWS and LIG segments are being given more priority in this phase of the DDA housing scheme. Flats will be offered at a discounted rate. Applicants for booking and registration of EWS flat will have to provide income certificates of the entire family for less than Rs 10 lakh.

Potential buyers would be given a five-day window after July 10 to survey the sample flats at each location and book their preferred unit.

Amount needed to book flats

EWS category people can book the flat with Rs 50,000 as the booking amount, for LIG flats, the booking amount is Rs 1 Lakh. For MIG flats, the booking amount is Rs 4 Lakh. HIG flats can be booked the flat in Rs 10 Lakh, the report stated quoting a DDA official.

Cost of flats

The price of HIG flats in Jasola Vihar is somewhere between Rs 2.08 crore and Rs 2.18 crore. The cost of MIG flat in Dwarka is between Rs 1.25 crore and Rs 1.35 crore.

While the cost of LIG flats in Narela and Rohini is Rs 15 lakh, Rs 17 lakh in Siraspur and Rs 30 lakh in Lok Nayakpuram.

The tentative prices of 1 BHK flat in Rohini will be around Rs 14.01 lakhs to Rs 14.24 lakhs. In Loknayak Puram, 1 BHK flat will be between Rs 26.98 lakh and Rs 28.47 lakh.

In Sirsapur, the tentative price of 1 BHK flat ranges from Rs 17.41 lakh- Rs 17.71 lakh.

In Narela, the tentative cost of 1BHK ranges from Rs 9.89 lakhs- Rs 12.54 lakh, Rs 13.69 lakh-23.19 lakh for 2 BHK and over Rs 1 crore for 3 BHK.

Here’s how to apply for the DDA Housing Scheme

> Visit the Delhi Development Authority’s (DDA) official website at www.dda.gov.in.

> Fill the online application form with personal information.

> Upload the required documents with the application form.

> Pay the registration fee after completing the form and uploading all the documents.

> Once the payment is done, note down the application number for future reference.

> To qualify for EWS, a person must submit an income certificate stating that the family’s gross pay is less than Rs 10 lakh per year.

> The DDA will issue “first-time” online system-generated demand letters after the applicants will make the registration payment.

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The Covid-19 pandemic was no deterrent for the NCR real estate market, which remained vibrant and performed remarkably well in 2022. The region witnessed more interest from private equity players than its counterpart realty hotspot MMR.

ANAROCK Capital’s Flux – 9M FY23 report reveals that PE players invested USD 1,215 Mn into NCR in the first nine months (9M) of FY23, against USD 771 Mn in the corresponding period in the previous financial year. This was a 58% yearly jump in total PE inflows in the region.

The report finds that MMR witnessed a drop in total inflows during the period – from USD 574 Mn in 9M FY22 to USD 224 Mn in 9M FY23. Investor focus has shifted visibly. Interestingly, Chennai, which accounted for a mere 1% share of total PE inflows in 9M FY22, saw its share rise to 8% in 9M FY23. As much as USD 268 Mn were invested in Chennai in 9M FY23, against USD 37 Mn in 9M FY22.

Overall, Indian real estate attracted USD 3.4 Bn of PE funding in 9M FY23, against USD 3.3 Bn in the corresponding period in FY22 – an annual increase of 3%.

Source: ANAROCK Capital

The top 10 deals alone accounted for 76% of the total value of PE investments in 9M FY23, compared to 72% in 9M FY22. The average deal ticket size rose from USD 82 MN in 9M FY22 to USD 91 MN in 9M FY23.

Source: ANAROCK Capital

Shobhit Agarwal, MD & CEO – ANAROCK Capitals, says, “With a rise in the hybrid work model and corporates expanding into tier 2 cities for their ease of working, demand and confidence in the commercial space has resurged. Confidence in the residential sector is also high currently, and will remain constant on the back of strong continued homeownership sentiment.”

“In the retail segment, PE investments have remained subdued but are expected to gain momentum with physical shopping levels returning,” he says. “Thanks to the buoyant manufacturing sector, favourable government policies and the booming 3PL sector, high momentum is expected in the Industrial & Logistics sector in the future.”

Other Key Highlights

• Equity vs Debt Funding: PE investors prefer equity investment, which is visible from the fact that its share continues to be a healthy 77%
• Asset Class-wise Funding: The commercial real estate sector has witnessed increased capital inflows via PE investments, accounting for the highest market share of 55% in 9M FY23 compared to 33% in 9M FY22. This can be attributed to investors’ continued preference for Grade A office assets with quality tenants. As an aftermath of the pandemic, demand in the residential sector has resulted in it drawing the second-highest share of 23% in 9M FY23. The residential asset class has seen PE growing from 568 USD Mn in 9M FY22 to 772 USD Mn in 9M FY23.
• Domestic vs Foreign Funding: At 948 USD Mn, domestic investments increased to 61% of the total PE capital inflows in Indian real estate in 9M FY23, compared to 587 USD Mn in 9M FY22. Foreign investments have dropped to 71% in 9M FY23 compared to 78% in 9M FY22.

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India Inc. has already started pinning hopes on various economic reforms in the upcoming Union Budget 2023-24. Unavoidably, there is quite a bit of overlap with previous years in the form of recurring demands which have, so far, not been or insufficiently met.

 1. The demands for single-window clearance and industry status for real estate are among the recurrent ones and have yet to be addressed. The sector hopes that the forthcoming budget will finally address it.

2. The government must offer more incentives to boost affordable housing. To a noticeable extent, the pandemic derailed the affordable housing growth story since early 2020 – one segment that the current government has rightly stressed since taking charge in 2014. The affordable housing supply by private players has reduced significantly since Covid-19, largely because its buyer class was impacted economically and hence went into wait-and-watch mode. Now, there is a need to make this segment attractive again, not least of all because it resonates well with the government’s housing for all initiative.

 3. There is an express need for more tax sops for home buyers as well as investors. The INR 2 lakh tax rebate on housing loan interest under Section 24 of the Income Tax Act needs to be hiked to at least INR 5 lakh. This will add momentum to housing demand, particularly in the affordable segment

 4. The Budget should offer a degree of personal tax relief, either by way of lower tax rates or by readjusting tax slabs. Doing so would also help boost housing absorption. The last increase in the deduction limit under Section 80C (to INR 1.5 lakh a year) was in 2014. Another favourable revision is long overdue, though it is admittedly unlikely. Instead, we may see the Budget further incentivising MSMEs and SMEs that are still struggling post the pandemic.

 5. Government spending on infrastructure has been exemplary and may get a further boost in the forthcoming budget. The positive correlations of infrastructure development with all real estate asset classes are well established.

 6. Perhaps most importantly, the government should seriously consider revising the price bandwidths for homes to qualify as affordable housing to align with the market dynamics of different cities. The size of units as per the current definition (60 sq. m. carpet area) is fairly appropriate, but the catch-all pricing band of up to INR 45 lakh for affordable housing is definitely not appropriate across most cities.

For instance, a price band of INR 45 lakh or below is far too low in a city like Mumbai, where it should be increased to INR 85 lakh or more. In other major cities, the qualifying price band should be increased to INR 60-65 lakh. Such a move would have more homes qualifying as affordable housing, and many more homebuyers would be able to avail of the current benefits like reduced GST at 1% without ITC, and other government subsidies.

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The Business Daily is North East India’s first Financial News Portal. This Pink Portal covers all big breaking news from the world of Business, Brands, Politics, Entertainments, Sports etc.

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http://www.thebusinessdaily.in

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