Curated By: Business Desk
Last Updated: August 31, 2023, 12:08 IST
The proposal was approved during the board meeting led by DDA Chairman VK Saxena.
The regulations hindered the sale process for potential buyers who already owned a flat or plot in Delhi.
In a significant development, potential homebuyers in Delhi will now have the opportunity to own a second property, even if they already possess a home. The Delhi Development Authority (DDA) has given the nod to this noteworthy change during a recent board meeting, as reported in the latest updates.
The decision to allow individuals to own a second residential property in the form of a flat within Delhi was made in a recent meeting of the Delhi Development Authority.
The move marks a departure from the previous housing regulations. Under the previous regulations outlined in the DDA regulation of 1968, individuals who already owned a property in Delhi, New Delhi, or Delhi Cantonment were ineligible to acquire a second home at the same location. This restriction had led to a stagnation in flat sales, resulting in an accumulation of unsold units over the years.
To address this concern and promote the sale of new housing stock while addressing the challenge of a surplus of old stock, the decision to amend the housing rules was initiated. The proposal, which received approval during the board meeting led by Lieutenant Governor and DDA Chairman VK Saxena, will now be forwarded to the Union Ministry of Housing and Urban Affairs for final endorsement.
The DDA, in its official statement, acknowledged the impact of the previous restrictions on the sale of DDA flats. The regulations had hindered the sale process for potential buyers who already owned a flat or plot in Delhi. The authority noted that shifting family dynamics, leading to increased household sizes, had generated a scenario where many individuals possessed the purchasing power and willingness to acquire a new flat, but were hindered by the prior regulations.
The response to this policy change has brought happiness among residents of DDA housing. Sudhanshu Mishra, a resident of Dilshad Garden DDA, expressed his approval, deeming the former practice as “anti-development.” He emphasized the transformative impact of this decision, particularly in a changing world characterized by nuclear families. Mishra highlighted that this policy alteration would unlock the potential for future generations to own homes, unburdened by the previous restrictions.
Prerna Jha, a resident of a DDA society, recounted her experience of having to register her flat under her father’s friend’s name due to the previous policy. She expressed hope that the recent policy revision would enable her to register the property in her name, eliminating the previous constraints.
