Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
The Ghaziabad Development Authority (GDA) has decided to engage private real estate brokers and create an in-house marketing cell to sell 1,748 unsold flats across five housing schemes. The units include 1, 2 and 3 BHK, mini-LIG and LIG flats priced up to INR 70 lakh, with a total estimated sale value of over INR 500 crore. Brokers will be allowed to retrofit units based on buyer demand, with costs reimbursed after registry, and will receive a 1% commission on the base price. EWS flats are excluded from this plan.
The Ghaziabad Development Authority (GDA) has initiated a structured plan to dispose of 1,748 residential units that have remained unsold across five of its housing schemes. These include 1, 2 and 3 BHK flats, along with mini-LIG and LIG category units, priced up to around INR 70 lakh. The overall potential value of these unsold properties is estimated to be more than INR 500 crore. Advertisement
To improve sales, GDA will now work with professional real estate brokers, a model commonly adopted by private developers. Officials informed that brokers would be permitted to carry out retrofitting and minor modifications in flats based on buyer requirements. The authority will reimburse the cost of such modifications after the sale deed is registered. In addition, brokers will receive a commission of 1% on the base price of each unit sold.
Alongside broker participation, GDA will set up a dedicated marketing cell within its existing staff structure. This team will be responsible for outreach, coordinating site visits, and assisting prospective buyers with documentation and queries. The step is aimed at creating direct engagement with buyers instead of relying only on periodic housing schemes or advertisements.
Officials clarified that Economically Weaker Section (EWS) flats are not part of this arrangement. The focus remains on categories where demand has been comparatively slow despite competitive pricing.
The move follows steps taken by the Uttar Pradesh government in the past year under revised model costing guidelines, where prices of certain authority flats were reduced by nearly 25% and incentives were introduced for full upfront payments. Despite those measures, a significant stock remained unsold, prompting GDA to adopt a more market-driven approach.
GDA has in previous years struggled with delayed sales and locked capital in completed housing stock. With carrying costs and maintenance responsibilities increasing over time, clearing inventory has become important for improving cash flow and funding future development works. The current strategy signals a shift towards active marketing and flexible sales practices.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
