Delhi: The Delhi Development Authority (DDA) is set to launch an e-auction for its high-end luxury properties, including penthouses and premium apartments, starting September 24, 2024. This initiative forms part of the DDA’s Special Housing Scheme 2024 and is expected to attract significant interest from prospective buyers.
The auction will feature a range of luxury residential units located in the Dwarka sector of the national capital. Reserve prices for these properties vary based on their category. Penthouses have a reserve price set at Rs 5.19 crore, while Super High Income Group (Super HIG) luxury apartments are priced at Rs 2.59 crore. For High Income Group (HIG) three-bedroom units, the reserve prices range between Rs 2.1 crore and Rs 2.28 crore. Mid Income Group (MIG) two-bedroom apartments start at Rs 1.28 crore. The e-auction will be conducted in separate sessions for each category, including Super HIG, HIG, MIG, and penthouses. A total of approximately 173 premium and luxury units will be available for bidding.
Prospective bidders can begin registering for the scheme from August 21, with the final date for registration set for September 16. The e-auction will run from September 24 to September 26, 2024. Specific time slots for the auction of each category of flats will be announced in due course. To facilitate participation, the DDA will conduct live demo sessions from September 21 to 23, allowing bidders to familiarise themselves with the e-auction process. This pre-auction period is designed to ensure that all interested parties are comfortable with the online bidding platform and understand the auction procedures.
The DDA’s move to auction these high-value properties via an e-auction platform reflects a growing trend towards digitalisation in property transactions. The varied reserve prices for different categories of flats are likely to appeal to a broad spectrum of buyers, from mid-income groups to high-net-worth individuals. This auction not only offers a chance to secure premium real estate in one of Delhi’s prominent suburbs but also underscores the DDA’s commitment to leveraging technology to streamline property sales. The outcome of this e-auction will provide valuable insights into current market demand for luxury residential properties in the capital.
