According to the president, NCR chapter of CREDAI, Rohit Modi, the apex body for private realtors in the country, in a recent statement said that there are more affordable and attractive options in the vicinity of the DDA dwelling units, particularly of the Haryana Urban Development Authority (HUDA). Driving home his viewpoint he quoted an instance that a DDA unit at the rate of Rs 6,000 to 7,000 sq ft in locations like Najafgarh, Narela and Rohini appears a costly affair when compared with the Haryana government's scheme in adjoining NCR region. As a matter of fact, HUDA's affordable houses in the neighborhood are cheaper by nearly 50-60%, he added.
Echoing his viewpoint, chairman, National Real Estate Development Council (NAREDCO), Navin Raheja, stated that HUDA's scheme is to offer housing units at the rate of Rs 3,600-4,000 per sq ft in NCR areas like Gurgaon, Sohna Road, Sonipat, Faridabad and Palwal, besides putting in place much easier norms for the resale of a property. As per the prevailing norms in the DDA, an allottee cannot sell the property before five years after possession, the HUDA flats can be resold after a year of the possession. Apart from this, HUDA scheme has a provision to set prices of the unit on carpet area while Indian developers have a practice of selling units by charging on the surface area. In fact, charge on the carpet area would help buyers save around 25-35% of the prices over other private or DDA units. The demand for affordable housing from the middle and lower middle class is so high that absorption for both the DDA flats and other affordable housing projects at these locations will be massive, CEO, operations, in real estate consultant firm JLL, said.