• Thu. Sep 28th, 2023

    The Delhi Development Authority (DDA) to Launch Premium Housing Scheme

    BySharna Bass

    Sep 19, 2023
    The Delhi Development Authority (DDA) to Launch Premium Housing Scheme

    The Delhi Development Authority (DDA) is set to launch its premium housing scheme during the festive season around Diwali. The scheme will offer luxury apartments, including penthouses, HIG (high-income group), and Super HIG category flats located in Dwarka sector 19B and Vasant Kunj.

    The exact number of flats to be offered under the scheme is yet to be finalized as some units are still under construction. These flats will be made available through a draw of lots. The prices for the luxury apartments are also yet to be decided.

    The penthouses and terrace gardens in the scheme will overlook a golf course spread across Sectors 19 and 24, offering a scenic view. The penthouses are expected to be around 266 square meters (2,860 square feet) in size, while the HIG flats will be available in two sizes, 129 square meters and 150 square meters.

    In addition to the premium apartments, the housing scheme is likely to include MIG (mid-income group) and EWS (economically weaker section) flats in Dwarka Sector 14 and Lok Nayak Puram, respectively.

    The DDA had previously launched a housing scheme in June, offering 5,600 flats in various categories. However, only around 1,800 flats were sold by the end of August, leaving a large number of unsold flats in the DDA’s inventory.

    To improve sales and clear the unsold inventory, the DDA has engaged a real estate consultant, Anarock, which will conduct a study on the demand of the real estate market and provide recommendations to improve sales. The consultant’s report will be incorporated into the upcoming premium housing scheme.

    The DDA board meeting will finalize the details of the scheme, including the number of flats to be offered, prices, eligibility criteria, and more. To further attract applications, the DDA has also recently approved amendments that allow people to buy DDA properties even if they already own a flat or plot in Delhi.

    Sources: Moneycontrol, [source 2]