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DDA Housing Scheme of 2008 and DDA Flats Scheme Results

Wednesday, December 17, 2008

DDA has announced to distribute flats on the basis of housing scheme 2008 in these areas of Delhi - Rohini, Vasant Kunj, Dwarka, Paschim Vihar and Pitam Pura Pitampura, Dwarka, Motia Khan, Paschim Vihar, Dilshad Garden, Vasant Kunj, Narela, Shalimar Bagh, Jhilmil, East of Loni Road, Nand Nagari, Peeragarhi, Sarai Khalil, Rohini, Lok Nayak Puram, Bindapur and Zafrabad.

According to the DDA housing scheme of 2008 about 5020 flats will be distributed in above mentioned areas. All the applications are for 2 or 3 bedrooms flats in various apartments. With the DDA flats scheme registration fee was of Rs. 1.5 Lakhs and about 12.64 lakh application forms were sold and downloaded but finally submitted form were 5.12 lakh finally in different banks which was announced by authorized by the DDA. I think it is the business plans like other investors of real estates.

The flats rates will be Rs 7.95 lakh to Rs 11.90 lakh. According to the DDA official announcement the rate was about 40% less from market. Axis bank, ICICI, HDFC, IDBI, SBI, Central Bank of India, and Union Bank of India were the official announced bank to submit the form of DDA housing scheme of 2008 flats.

It was the lottery for DDA flats scheme in India basically in Delhi. DDA is the official authority for Delhi Development. Who don't get lucky in the lottery of DDA housing scheme 2008 will be gait back their registration money by January, 2009. Who have applied from banks will get their money back with the deduction of 5000.

You can now imagine the housing system in Delhi or all over metropolitan of India with the December, 2008 results of DDA flats scheme. People are much agree to spend their money upto 11.90 lakh rather than 25-30 lakh flats in Delhi. This is the results of hot property in not only in Delhi but also in India.

It is the mortgage scheme of people life not DDA flats scheme. DDA was created in 1957 to promote and secure the development of Delhi under the provision of Delhi Development Act.

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The booms and the turns taking place in the real estate sector in India

Friday, December 5, 2008

The booms and the turns taking place in the real estate sector in India are an aftermath of the things which have taken place all over the world with their effects being financial in nature.

The situation was never so grim before in the world, as it has in the recent past. Many changes and mistakes were made by most of the prominent decision makers all over the world. The economic stalwarts were forced to rethink their processes due to being faced with a situation, which led to financial turmoil. USA, being the source of all this trouble and one of its major victims, is one of the major examples. The worst hit sector there was the real estate sector and the jitters were felt in many countries with a prosperous future with India being one of them.

However, the reader of this article should not be discouraged about the present situation, which has begun to show signs of being on the track of improvement. The changes which have taken place, clearly show this event taking place. The result is the improvement in most of the prevalent sectors bringing in cash to the Indian economy. The real estate sector is one of them, having seen many changes taking place due to variety of steps being taken by the Indian government.

The major entity which perhaps deserves all the credit is the Reserve Bank of India. The steps that have been taken by RBI have led to the Indian real estate sector regaining its composure amidst all this trouble. Some of the steps have been the reduction in the repo rate and a decrease being made in the CRR of Cash Reserve Ratio.

The repo rate is the rate at which banks borrow extra funds from RBI and the Cash Reserve Ratio is the total amount of money that banks have to deposit with the Reserve Bank of India. Therefore the reduction of the interest rate at which banks borrows money from RBI is quite beneficial for them.

The benefits show themselves in the real estate sector with housing loans now being more affordable. This is due to the reason of the interest rate being reduced. This is the rate at which home loans are given by banks. Since they have to pay a lower repo rate, they can afford to give housing loans at decreased interest rates.

Other factors which have taken place have also led to the overall improvement of the Indian economy. The fact cannot be ignored that India too was one of the victims of this financial mass disturbance. However, the financial system being used in India is quite a durable one and is less prone to the effects. Therefore, the recovery time for this economy has been quite short when compared to all the other economies of the world.

Housing loans are, therefore, once again useful resources which can be used for acquiring a house. The apprehension that was present in the minds of the Indian citizens has now started to disappear. One can see this in the rising number of applications being made for taking housing loans.

The overall real estate sector has improved quite magnificently. Most of its facets have started to revel in their once frequent and habitual perfection of performance. The dent has been a hard one, but the work that has been done in order to repair this dent is quite appreciable. The Indian real estate warhorse is once again on its path to glory.
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