All the unsuccessful applicants of the 2014 Housing Scheme who applied directly to the Delhi Development Authority (DDA) will get their deposits back by December 18. Those who applied through various banks will get their money back by December 24. The draw of lots to the scheme was done on November 25.
Instead of waiting for three months to get their registration amount of Rs1 lakh back, the DDA this time has expedited its refund policy and will now get it within one month. Besides, in the DDA housing scheme’s brochure, the land development agency had clarified that it would not pay any interest to applicants on the registration money for up to three months. The registration amount is Rs1 lakh, except for those applying under the Economically Weaker Sections (EWS) category, for which the registration amount is Rs10,000.
“It is informed that DDA is going to transfer the whole money of deposits to respective banks by 18th of this month. All the banks have been directed by vice-chairman, DDA to ensure that the money is refunded or transferred on line to the respective accounts of unsuccessful applicants by December 24, 2014. Therefore, all initial deposit money of unsuccessful applicants will be refunded within one month of the draw as promised earlier,” said a senior DDA official.
The period of one month has been counted from the date of the draw of lots, which is November 25. In case of those who have paid the registration amount from their account, the money would be automatically transferred back to their account by the bank. Also, those who have taken the amount on loan from banks might have to pay lesser interest as the money would be transferred to the bank directly within a month.
DDA has amassed around Rs10,000 crore just from the registration amount deposited by the 10,08,985 applicants. The money is deposited in a fixed deposit account by DDA, from which it earns interest. This amount is used for DDA’s housing and other projects.