DDA
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If you are living in Delhi and getting an opportunity to buy a resale DDA flat, then no wonders you can’t say no to it. Every year lots of Delhiites submit Delhi Development Authority housing scheme form to become a lucky one who can get hold of a DDA flat in top most preferred locations like Dwarka, Janakpuri, Rohini, Vasant Kunj, etc. These locations not only considered as best investment but also have the potential to offer High Return on Investment.

According to a real estate expert, “A resale property comes with an advantage. First of all, you can buy the locality, floor, and unit as per your choice which is not possible if you are applying for a fresh house under the DDA scheme. Secondly, a fresh property cannot be exchanged immediately with any other allottee, while in a resale property you can sell your property at any point of time,”

Moreover, buying a resale DDA flat is much easier than any other under-construction unit. One can easily get an approval of Home Loan from nationalized banks and also the procedure of buying it is hassle-free. But there are certain important tips to be kept in mind while purchasing a resale DDA flat. Take a look:

Buying Guide: Resale DDA Flat

  • First of all, you must check the age and construction quality of the apartment/flat.
  • Before purchasing check and verify all the legal documents like allotment paper, sale deed, Power of Attorney, encumbrance certificate, NOC from electricity and water department on no-dues pending.
  • Scan all the papers properly and check that the property should not be involved in any legal dispute in the past.
  • Also, check that all the renovation and repair must be taken under construction norms and rules.

Essential Documents needed for Transfer of Flat

  • On a stamp paper of Rs 10, the owner and seller both have to submit an affidavit which should have all the details of the parties.
  • An undertaking deed duly signed on Rs 10 stamp paper
  • In case, if any dispute arises from the sold property, then to take any action against the property seller or the current owner, both the parties must sign two indemnity bonds on a stamp paper of Rs 100.
  • Completion certificate of the property or Form D, and Registered lease deed.
  • Three specimen signatures and a passport-size photograph duly attested by a Grade I officer.
  • Two address proofs which may include Aadhar Card, passport, Voter ID, passbook of any nationalized bank, and electricity bill.

Once you are done with all the documents, ask DDA officials to avail a mutation certificate on the resale property.