DDA to Hike Interest Rate for Housing Registration Deposits

New Delhi: Delhi Development Authority has decided to pay simple interest at 8 percent instead of the current 5 percent on registration deposits for all its future housing schemes, the urban body said Thursday.

The decision was taken at a DDA meeting on Thursday at Raj Niwas here.

DDA said in a release here that the decision was taken in order to "narrow the gap" between the interest paid to the allottees and that charged for delayed payments for its housing schemes.

However, it added that old cases which have been settled shall not be reopened.

The decision will also apply to earlier "alive" schemes where the deposit has been kept for more than three months from the last date of closure of the scheme, the statement added.

It was also decided during the meeting that computerised bills would be made available for Dwarka sub-city and Lok Nayakpuram by June 30, which would also be accessible on the DDA website.

A one-time rebate in surcharge payment on water bills was also approved in the meeting for consumers in Dwarka and Rohini, who pay their outstanding bills in installments but within a certain time frame, it said.

Change of land-use for facilitating building of offices in certain areas was also approved, it said.