The Delhi Development Authority is commencing their program of e-auction of its premium apartments and penthouses from January 5, 2024 under its Festival Special Housing Scheme 2023.
The DDA Officials said that the auction will be organized separately for each category of flats, such as Super HIG, HIG (High Income Group), MIG (Middle Income Group), and Penthouses. Under the scheme, over 1,130 luxury apartments have been put on sale by the DDA.
According a senior DDA official, “Registrations for luxury apartments, including penthouses, along with MIG flats were started from November 30 evening. We are getting a good response from prospective buyers and we will start the bidding for the luxury as well as MIG apartments from January 5. A detailed category-wise schedule is likely to be announced next week.”
Under the segment of luxury and ultra-luxury houses the DDA is presenting three categories of flats, which are Super HIG, HIG and penthouses. The authority is also offering 14 duplex penthouses and these will be four-bedroom apartments with a plinth area of 424 square metres. Apart from this, the DDA is offering 170 super HIG flats and 946 HIG flats in the same complex in Dwarka’s Sector 19B. The whole complex, which has 11 towers, was built with Rs. 700 crore as the construction cost.
The Authority will also auction 963 2BHK MIG flats located in Dwarka’s Sector 14 and Lok Nayak Puram, a locality in West Delhi that the DDA is developing.
the booking price of the luxury penthouses and Super HIG flats will start from Rs. 5 crore and Rs. 2.5 crore, respectively. DDA officials said that, the flats will be sold on a first come first serve basis, but the penthouses, other luxury apartments, and MIG flats in Dwarka and Lok Nayak Puram will be allotted through an e-auction.
The penthouses under the scheme will have terrace garden and the luxury housing complex in Sector 19B will have larger-than-usual green spaces. Property visit can be facilitated the investors after they register on the DDA portal.
One of the officials mentioned, “The e-auction process for allotment of the luxury and MIG segment was chosen after consultations with real estate experts on pricing the flats. These apartments are situated at prime locations in proximity to IGI Airport, an upcoming golf course, a metro station and a convention centre, so the pricing is justifiable.”
The development authority has set up two camps in Dwarka sector last week to visit the site physically and check the construction.
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