NEW DELHI: The Delhi Development Authority (DDA) is set to sell a total of 5,000 flats, starting Monday, at prices nearly 40% lower than those offered by private developers, presenting an extraordinary opportunity for potential buyers.
Among the available flats, the breakdown is as follows: 352 are three-bedroom units, 889 are two-bedroom, 3,231 are one-bedroom, and 286 are expandable. Given Delhi’s space constraints and soaring property prices, these flats will be located in several sought-after areas such as Vasant Kunj, Rohini, Dilshad Garden, Paschim Vihar, Motia Khan, Dwarka, and Pitampura.
The selling prices for these flats range from Rs 7.2 lakh to Rs 77 lakh, making homeownership more attainable at a time when rising property values and increasing EMIs have rendered the dream of owning a home in the capital increasingly out of reach.
DDA’s report indicates that 60% of these flats are newly constructed, while the remaining portion consists of units that were previously allocated to the government but later vacated or surrendered due to non-payment. Some were also under construction for various durations.
A closer look at the one-bedroom flats reveals the most affordable unit in Narela Sector 9A priced at Rs 7.20 lakh, with the most expensive listed in Dwarka’s Sector 18B at approximately Rs 24.80 lakh.
DDA anticipates robust interest in this sale, recalling that during a similar offering of 3,000 flats in 2006, there were a staggering 1.90 lakh applications submitted.
Importantly, 28% of the 5,000 flats will be reserved for different categories, including 17.5% for Scheduled Castes (SC), 7.5% for Scheduled Tribes (ST), and allocations for war widows, the physically challenged, and ex-servicemen, each receiving 1% of the total.
Neemo Dhar, director of press and information at DDA, stated, "Till date DDA has allotted 371,215 flats of various categories under 42 schemes. On Monday it will throw open the application process which is expected to continue until September 16. DDA aims to announce the results via a computerized draw of lots three months after the application deadline."
Flats will also be available in areas like Shalimar Bagh, Jhilmil, Narela, East of Loni Road, Nand Nagri, Peeragarhi, Sarai Khalil, Lok Nayak Puram, Bindapur, and Zafrabad, with sizes ranging from approximately 39.39 square meters in Rohini Sector 18 to about 158 square meters in Motia Khan.
Industry observers believe that select individuals may strike it lucky. The prices in locations such as Pitampura, Dwarka, Vasant Kunj, and Rohini are about 40% lower than the prevailing market rates, with an average cost per square meter calculated at around Rs 3000, compared to the market rates of Rs 6000 to Rs 7000 from private developers.
DDA officials noted that since 2006, when 3,000 flats were sold, the overall increase in the cost of flats has been limited to just 25%. The affordability of DDA flats can be attributed to the lack of profit motive, making these offerings exceptionally competitive.
Back in 2006, 3,000 flats were put up for sale in areas like Rohini and Dwarka, with the priciest flat priced around Rs 38 lakh in Dwarka. This time, the highest asking price is Rs 77.80 lakh for a flat in Motia Khan, reflecting its greater size and desirable location.