Home is where we can all find comfort. Big or small, home is home. There is financial security and peace of mind. Life seems perfect when you have a place to call your own. This is one of the basic requirements of life. If you already own a home, you are in luck! However, there are many people who decide to move out of their shared family and plan to build their own homes. Thanks to the Government of India for the Affordable Housing Programme.
What is Deen Dayal Jan Awas Yojna?
Deen Dayal Jan Awas Yojna is an initiative of the Haryana government to encourage the development of high density settlements in low and medium potential cities through a liberal policy framework.
The plan was launched with the goal of curbing the rampant growth of illegal colonies and achieving the goal of housing for all by 2022. The scheme falls under the Prime Minister Awas Yojna (PMAY) and was approved in 2015 under the comprehensive licensing policy of the Haryana government.
Under DDJAY, a developer or builder can build a residential community or community on a land bank ranging from 5 to 15 hectares. The most attractive benefit of this policy is that potential buyers can obtain land loans of up to 75% of the property value from all leading public and private sector banks and up to 90% of floor and apartment loans from builders.
Benefits of Deen Dayal Jan Awas Yojna for Buyers
Under the scheme, buyers are free to purchase freehold, mortgageable and lawsuit-free properties. First-time home buyers are also eligible for interest rate concessions of up to 2.35 lac under the credit-linked interest subsidy scheme known as the government’s Pradhan Mantri Jan Awas Yojna (PMAY).
Under the DDJAY scheme, developers can register four separate storeys on each lot, with shed parking and lifts.
Each floor is eligible for separate registration, so a separate bank loan can be applied for for each floor. The total plot ratio of each plot is 2.68.
Under the DDJAY scheme, only 50% of the plots can be allocated before development. The remaining 50% of the plots can only be used after the community is completed or upon receipt of a certificate of completion from the Director of Town and Country Planning, Government of Haryana. (DTCP), assigned or sold.
The developer or colonizer must hand over 10% of the licensed colony area to the government for the development and maintenance of community facilities.
Town planning projects under DDJAY are only allowed in residential areas of the cities listed in the master development plan.
To encourage private colonists to develop these colonies, external development fees and royalties have been greatly reduced, while infrastructure development and conversion fees have also been eliminated.
90 days after application, CLU is approved
The maximum permissible size of the plot size under DDJAY is 150 sqm. (180 sqm). Additionally, the maximum and minimum densities per acre are 240 and 400 people, respectively.
According to DDJAY, the license fee is charged at the rate of Rs 1 per acre for medium potential cities and Rs 10,000 per acre in case of low potential cities. EDC fees for high potential and ultra potential areas are the same as for normal planned townships. In the case of Sohna, the EDC fee is around Rs 90 per acre.
The developer or colonizer is responsible for selling licensed territories in two stages. After the internal development of the entire township is completed, 50% of the licensed area can be sold. To do this, the colonists must pawn 15% of the sales area.
Colonists were required to transfer 10% of the licensed area to the government for the development of community facilities.
All developers must complete residential projects within 7 years of being licensed.
All apartments developed by DEEN Dayal Jan Awas Yojna are built by private housing companies under the supervision of the state government.
The DDJAY program will definitely reduce the increase of unauthorized colonies in the state.
Allocations in the DDJAY program are on a first-come, first-served basis, unlike other affordable housing programs that use lots.