DDA will launch an online auction on January 5 for high-end apartments, including penthouses

In a complex located in Sector 19B in Dwarka, the Authority is offering 14 duplex penthouses, 170 super HIG flats, and 946 HIG flats. Eleven skyscrapers make up the complex, whose estimated construction cost is Rs 700 crore.

According to people with knowledge of the situation, the Delhi Development Authority (DDA) would begin holding electronic auctions for its upscale flats and penthouses on January 5, 2024 as part of its Festival Special Housing Scheme 2023.

These officials say that every type of apartment, including Super HIG, HIG (High Income Group), MIG, and Penthouses, will have its own auction. The DDA has listed more than 1,130 opulent apartments for sale under the programme.

Prospective purchasers are responding favourably, and on January 5th, we will begin accepting bids for both the luxury and MIG units. Next week, a comprehensive schedule broken down by categories should be revealed, a top DDA official told Moneycontrol, requesting anonymity.

The DDA offers three types of apartments under the luxury segment: Super HIG, HIG, and penthouses. The Authority is selling fourteen duplex penthouses, each with four bedrooms and 424 square metres of plinth space. Similar to this, the DDA is selling 946 HIG flats and 170 super HIG flats in the same complex located in Sector 19B of Dwarka. Eleven skyscrapers make up the complex, whose estimated construction cost is Rs 700 crore.

Additionally, 963 2BHK MIG flats in Sector 14 of Dwarka and Lok Nayak Puram, a West Delhi neighbourhood that the DDA is building, will be put up for auction by the Authority.

Costing

Super HIG apartments and opulent penthouses would have reserve pricing starting at Rs 2.5 crore and Rs 5 crore, respectively. A reserve price of Rs 1.4 crore has been set aside for HIG units. MIG flats have reserve prices as low as Rs 1 crore.

The official mentioned above stated that the penthouses, other luxury apartments, and MIG flats in Dwarka and Lok Nayak Puram will be distributed through an e-auction, in contrast to other DDA programmes where flats are distributed on a first-come, first-served basis.

After consulting with real estate specialists on the cost of the apartments, the e-auction method was selected for the allocation of the luxury and MIG segments. The pricing is reasonable because these flats are close to IGI Airport, a future golf course, a metro station, and a convention centre, the official stated.

According to officials, the premium housing complex in Sector 19B will feature larger-than-usual green spaces, and the penthouses will also have terrace gardens. After registering on the DDA site, prospective buyers are able to schedule property visits, according to the officials.

Additionally, the Authority established two camps at the Dwarka sector 19B housing complex last week to enable prospective homeowners to make in-person visits.