The Delhi Development Authority (DDA) has achieved an impressive milestone by selling approximately 40% of its previously unsold inventory of 2,236 flats in Phase 1 of its housing scheme. This accomplishment, which generated Rs 506 crore in revenue, underscores the enthusiastic response from potential homebuyers in Delhi. Despite initial concerns regarding the sale of economically weaker section (EWS) flats, the DDA has successfully sold various flat categories in different locations. The LG has set ambitious targets for the current fiscal year, aiming to sell at least 40% of the total unsold inventory. The DDA's proactive measures to enhance the appeal of certain areas have contributed to this success.
In just slightly over three months since the commencement of registration for the housing scheme offered by the Delhi Development Authority (DDA), an impressive feat has been accomplished. DDA has managed to successfully sell approximately 40% of its previously unsold inventory, which amounts to a substantial 2,236 flats in Phase 1. The monetary transactions have already been completed for 1,249 of these flats, while the processing of payments for the remaining properties is well underway. This impressive achievement has resulted in a revenue generation of Rs 506 crore for the DDA under the scheme.
This surge in registrations highlights the enthusiastic response from potential homebuyers in Delhi. Despite initial concerns regarding the sale of economically weaker section (EWS) flats in Narela, the DDA has successfully sold 809 EWS flats to date. Additionally, flats in other categories have also found eager buyers, including 83 LIG and MIG flats in Narela, over 200 MIG flats in Dwarka (including 182 purchased by the Central Board of Secondary Education - CBSE), 29 HIG flats in Jasola, 824 LIG flats in Rohini, and 42 LIG flats in Loknayak Puram.
DDA officials are encouraged by this remarkable response and have set ambitious targets for the current fiscal year. Lieutenant Governor V K Saxena has directed them to sell at least 40% of the total unsold inventory, which comprises 13,782 flats. Depending on the success of this endeavour, additional flats may be added to the scheme in subsequent phases.
Over the years, despite various offers and schemes, more than 13,000 DDA flats had remained unsold since the fiscal year 2011-12. Acknowledging this challenge, the LG, who also serves as the DDA chairman, directed the modification of norms to facilitate the purchase of flats, making the process more accessible for potential buyers. As a result, individuals or families interested in purchasing a property were granted the opportunity to visit the site and select a specific flat of their choice, rather than relying on a lottery-based allotment system.
The housing scheme, which was launched on June 30, opened registration on July 10, offering a range of flats, including 1BHK flats in Narela, Siraspur, Rohini, and Loknayak Puram; 2BHK flats in Narela and Dwarka; and 3BHK flats in Jasola. Notably, the scheme maintained the prices of unsold flats as per the rates established in the current financial year, instead of revising them, as directed by the LG.
In a bid to ensure that only serious buyers pursued DDA properties, the booking amounts were raised from Rs 25,000 to Rs 50,000 for EWS, from Rs 2 lakh to Rs 4 lakh for MIG, and from Rs 2 lakh to Rs 10 lakh for HIG. This strategic adjustment aimed to deter potential buyers from backing out after making initial commitments. Additionally, the DDA introduced the option to merge adjoining flats, which proved to be a significant attraction for buyers.
To enhance the appeal of Narela and boost sales, the DDA took several measures, including allocating land for a police station and a hospital, as well as earmarking new Delhi Transport Corporation (DTC) routes. Plans were also set in motion for Metro coverage, the establishment of university campuses, and court complexes in the area. The DDA's commitment to improving infrastructure and amenities demonstrates a proactive approach to attracting buyers and making the properties more attractive.
Looking ahead, DDA officials intend to introduce more towers and flats within the existing scheme, pending approval from the authority. This expansion reflects their dedication to addressing the housing needs of the city and ensuring that unsold inventory becomes a thing of the past.
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