Now the Delhi Development Authority is coming up with the new Housing Scheme for the year 2017. Each time when it comes with it housing scheme there are lot of applications which flow into the system. Huge lines are being there for getting and submission of the forms. The loan for the registration charges are also provided by various banks for which they charge the fees. There would be around 12000 flats available in different locations such as Dilshad Garden, Vasant Kunj, Jahangirpuri, Rohini, Paschim Vihar, Pitampura, Dwarka, Mukherjee Nagar, Jasola, Narela, Sarita Vihar and many others.
The registration fee will also be changed as for the LIG it would be Rs 1,00,000/- and for MIG and HIG it will be Rs 2,00,000/-. DDA had the tie up with only 10 of the Banks who will be having the forms in some of its branches such as State Bank of India, IDBI, Axis Bank, Bank of Baroda, Canara Bank, Kotak Mahindra, Yes Bank, HDFC Bank, Central Bank and ICICI Bank. There are many people who fill the form and after seeing the draw withdrew their money back due to various reasons. But this time the DDA will take some strict action against the people who do the back out.
Procedure for refund of registration amount
In case if one wants to back out then one need to follow the procedure for taking the refund from DDA –
- Individual has to submit an application in the office of DDA mentioning the reason for cancellation.
- After the procedure of cancellation and deducting the penalty, DDA will refund the amount of registration back to the nodal branch of bank in which the applicant had given the application form.
- Then the bank will issue the check back to the individual.
Penalties on refund of registration amount
The penalties of withdrawal is as per the duration in which one withdrew –
- If an individual withdrew the amount before the due date then the entire amount will be refunded back.
- If one does after the draw but before the next step of issuing the demand letter then there would be the deduction of 25% registration amount.
- If the demand letter will be issued but 90 days has not be completed then there would be deduction of 50% registration amount.
- If the 90 days has been passed and an individual submit the withdrawal afterwards then the entire amount of registration will be deducted and one will not receive anything back from the DDA.
Considering all the procedure and penalties the buyer needs to carefully decide that whether they want to fill the form of draw or not.