NEW DELHI: The Delhi Development Authority (DDA) has a cash deficit of over Rs 9,600 crore till March 2022 and mainly due to huge unsold inventory of flats, the housing and urban affairs ministry informed the Rajya Sabha on Monday. The revelation comes barely weeks after Delhi Lt Governor V K Saxena tweeted that while the DDA is owner of one of the costliest and largest chunks of real estate in the world, “mismanagement” has led to its liabilities exceeding Rs 10,000 crore. In a written response to a question from AAP lawmaker Narain Dass Gupta, the housing and urban affairs ministry said, “The DDA has a cash deficit of Rs 9,615 crore as on March 31, 2022 which has been financed through borrowings from Nazul account. The deficit started from the Financial Year 2016-17 and it is mainly due to unsold housing inventory worth approximately Rs 18,000 crore.” Responding to a question on the reasons for DDA flats remaining unsold, the ministry cited several factors, including location of the flats in remote areas mainly in Narela and cost of flats being on higher side. It also said that Metro rail connectivity is not available in the area and the size of the flats are small. It said in order to improve saleability of these flats, the DDA has undertaken remedial measures including improvement of transport infrastructure, construction of Urban Extension Road –II (UER-II), permitting amalgamation of flats, allotment on first come first serve basis and some concession to the purchasers. FOLLOW US ON SOCIAL MEDIAFacebookTwitterInstagramKOO APPYOUTUBE
