Central Bank of India, only Bank to Finance DDA Housing Scheme 2017

Central Bank of India, is the only bank to finance DDA Housing Scheme 2017. The Central Bank is ready to finance the registration amount at present that too on a certain tough conditions.

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Central Bank of India, only Bank to Finance DDA Housing Scheme 2017

Central Bank of India, is the only bank to finance DDA Housing Scheme 2017. The Central Bank is ready to finance the registration amount at present that too on a certain tough conditions, they are:

  • The homebuyer/customer must be an account holder with the bank
  • The Income tax Returns (ITR) of buyer will be sought to check the eligibility for loan
  • Buyer will have to produce a guarantor holding an account with the bank in order to get through. The guarantor will promise to pay the loan amount in case the buyer fails to do so

Eight banks that are tied up to Delhi Development Authority’s (DDA) newly launched Awasiya Yojana 2017 housing scheme, are not ready to finance the registration fee fearing losses over the forfeiture clause. Homebuyers are getting disinterested and many have returned without applying for the scheme.

Housing Authority held a meeting with the concerned banks seeking a solution, but they failed to reach a solution.

Bank demands the housing authority to remove the clause of 25 percent registration fee being forfeited if allottee returns the house after draw of lots.

Some banks are making a scheme to partially finance the application fee amount, but they are still to finalise it. However, the clause cannot be removed without a notification from the Lieutenant Governor.

DDA Awasiya Yojana 2017, has so far received only 5,000 applications under different categories. About 60,000 forms were sold over 26 days and the last date to submit application form is August 11.

DDA Housing Scheme 2014 received 7.5 Lakh applications which launched in September 2014. Authority has printed 20 Lakh forms and about 17 Lakh were sold. On the launch day, about 30,000 forms were bought and within five days the number crossed two lakh mark.

DDA Awasiya Yojana 2017 Housing Scheme has approx 12,000 flats. Forms and brochures are available in selected branches of banks in Delhi from June 30 to August 11. DDA Housing Scheme has been linked with the Pradhan Mantri Awas Yojana (PMAY), people fulfilling the Eligibility Criteria will get subsidy on the interest.

Source Link- http://www.dnaindia.com/delhi/report-dda-s-2017-housing-scheme-banks-wary-of-financing-registration-fee-2516403

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