• Thu. Nov 30th, 2023

Delhi’s Diwali Delight: DDA Likely To Launch Premium Housing Scheme, Says Report


Sep 21, 2023

DDA flats will be offered through a draw of lots. (Representative image)

DDA flats will be offered through a draw of lots. (Representative image)

It is expected that nearly 3,000 upscale apartments, encompassing penthouses, in various areas including Dwarka and Vasant Kunj, will be made available

The Delhi Development Authority (DDA) is expected to unveil its high-end housing scheme during the festive season around Diwali in 2023. Reportedly, the scheme is anticipated to offer approximately 3,000 premium residences, including penthouses, situated in sought-after areas such as Dwarka and Vasant Kunj, among others.

DDA is a statutory body established under the Delhi Development Act, 1957, under the jurisdiction of the Ministry of Housing and Urban Affairs, Government of India. The DDA is responsible for the planning and development of Delhi, including land acquisition and development; construction of residential and commercial buildings; provision of infrastructure and public services and regulation of land use and development.

Also Read: Home Buyers Take Note: What You Must Know Before Booking Under Construction Flat

According to a report by Moneycontrol, the exact number of flats to be offered under the scheme may vary as several units are under construction at present. The flats will be offered through a draw of lots.

“The scheme will offer luxury apartments such as penthouses, HIG (high-income group) and Super HIG category flats located in Dwarka sector 19B and Vasant Kunj. The prices for these units are yet to be decided,” the source told Moneycontrol.

He mentioned that the luxurious penthouses and rooftop gardens will have a view of the golf course spanning Sectors 19 and 24. It has been indicated that the penthouses are expected to cover an area of approximately 266 square meters (2,860 square feet), while the HIG flats may be available in two sizes, measuring 129 square meters and 150 square meters respectively.

The housing program is expected to include MIG (mid-income group) residences in Dwarka Sector 14 and EWS (economically weaker section) flats in Lok Nayak Puram.

The DDA had on June 30 launched its housing scheme where 5,600 flats in the 1, 2 and 3 BHK categories were put for sale in Jasola, Rohini, Dwarka, Lok Nayak Puram, Narela and Siraspur areas of the national capital. But till August last week the authority could sell only around 1,800 flats.

Unsold flats

Back in August, the Authority had enlisted the services of a real estate consultancy firm, Anarock, to boost sales and reduce its inventory, which currently comprises approximately 40,000 unsold apartments. The consultancy is tasked with conducting an in-depth analysis of the real estate market’s demand for DDA properties and gauging buyer sentiment. Their recommendations will focus on enhancing sales strategies.

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