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The Delhi Development Authority (DDA) is set to launch its Premium Housing Scheme 2025, offering 177 residential flats and 67 garages via e-auction in prime Delhi locations. Concurrently, the DDA has approved reforms for commercial real estate, including reducing amalgamation charges from 10% to 1% of the circle rate and lowering the auction multiplication factor from twice to 1.5 times. These changes aim to boost investment and make Delhi more competitive. Additionally, the DDA approved rent facilitation for Signature View Apartments residents during reconstruction, and is developing an education hub and sports complex in Narela.
The Delhi Development Authority (DDA) has recently announced new initiatives for both residential and commercial real estate development. Following a meeting chaired by Lieutenant Governor VK Saxena, the DDA plans to stimulate growth, improve housing options, and address market demands across various parts of Delhi by launching new schemes and approving policy reforms. Advertisement
New Residential Housing Scheme: The DDA is set to launch its Premium Housing Scheme 2025. This scheme will offer 177 residential flats, categorized as HIG (High Income Group), MIG (Middle Income Group), and LIG (Low Income Group), along with 67 car and scooter garages. These properties will be offered through an e-auction and are located across various areas in Delhi, including Vasant Kunj, Dwarka, Rohini, Pitampura, Jasola, and Ashoka Pahari.
Commercial Real Estate Reforms: The DDA has introduced reforms to stimulate commercial real estate investment and large-scale development in Delhi. A key reform involves reducing amalgamation charges for commercial properties from 10% of the circle rate to just 1%. This change aims to make it more financially viable for developers to consolidate land and undertake larger projects, addressing a factor that previously deterred development and led to some commercial projects shifting to neighboring Noida and Gurugram due to lower charges.
Additionally, the DDA has lowered the multiplication factor for the auction of commercial properties from twice the circle rate to 1.5 times. This adjustment seeks to align property valuations with market realities, making Delhi more competitive and encouraging commercial investment back into the city. These decisions were based on recommendations from a high-level joint government-industry task force and are expected to accelerate the planned growth of Delhi's commercial sector.
Other Key Decisions for Urban Development: The DDA has also approved a facilitation amount for residents of Signature View Apartments. This includes INR 50,000 per month for HIG flats and INR 38,000 per month for MIG flats towards rent during the reconstruction period. This rent will be paid unit-wise to allottees and owners upon vacating their flats, effective from January 2025 for those who vacated prior to the Delhi High Court judgment in December 2024, subject to the appellate court's final decision.
Furthermore, the DDA approved changing land use in Narela sectors to create an education hub and develop a multi-sports integrated stadium and sports complex. A discount was also approved on bulk purchases of unsold flats in Narela by government departments and universities. These initiatives reflect DDA's strategy to address various aspects of urban development, from housing supply to commercial growth and civic infrastructure.
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