Exchange Your DDA Flats

Posted In Awareness, India - By NitiN Kumar Jain On Thursday, January 20th, 2011 With 0 Comments

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Many of the DDA flat owners in Delhi might not be aware of a possibility wherein they can exchange their flats within themselves.

Delhi Development Authority (DDA) has recently introduced a new policy that would allow multiple and triangular (mutual exchange of flats amongst three residents) exchange within the same colony.

According to the policy, if triangular or multiple exchange of flats takes place in the same category within one year of the draw of lots, the flatholder as well as the applicant would have to pay a sum of Rs 15,000 to DDA. Similarly if the exchange takes place after a year of the draw of lots, the parties would have to pay a sum of Rs 25,000 for the exchange to be processed.

The onus for a mutual exchange would be on the applicant, and the DDA would not have any role to play in that process.

The reason for the policy as being explained by a DDA official is that they receive requests from residents of the Cooperative Grouping Housing Scheme (CGHS) to exchange their flats for various reasons like elderly or persons suffering from ill-health prefers to reside on the ground floor and the applicants would have already found someone in the society who is willing to exchange flats. But as the Authority did not have a policy in place to process such requests, they were either handled on an individual basis or ignored.

In the event of an exchange of a lower category flat for a higher category flat within a year of the draw of lots, the flat owner and the applicant would have to pay Rs 35,000. The amount would go up to Rs 45,000 if the exchange takes place after the completion of a year.

Important thing to note here is that the DDA policy insists that only original allottees can initiate flat exchange request.

Applicants would also be required to furnish a no-objection certificate from the society to ensure that third-party members do not have any problem with the exchange.

The policy looks great for people who have mutually agreed to exchange flats for multiple reasons.