The Delhi Development Authority (DDA) will start e-auction of its premium apartments and penthouses from January 5, 2024 under its Festival Special Housing Scheme 2023, officials aware of the matter told Moneycontrol.

According to these officials, the auction will be held separately for each category of flats, such as Super HIG, HIG (High Income Group), MIG, and Penthouses. Under the scheme, over 1,130 luxury apartments have been put on sale by the DDA.

“Registrations for luxury apartments, including penthouses, along with MIG flats were started from November 30 evening. We are getting a good response from prospective buyers and we will start the bidding for the luxury as well as MIG apartments from January 5. A detailed category-wise schedule is likely to be announced next week,” a senior DDA official told Moneycontrol, on condition of anonymity.

Under the luxury segment, the DDA is offering three categories of flats: Super HIG, HIG and penthouses. The Authority is offering 14 duplex penthouses and these will be four-bedroom apartments with a plinth area of 424 square metres. Similarly, the DDA is offering 170 super HIG flats and 946 HIG flats in the same complex in Dwarka’s Sector 19B. The complex, with an estimated construction cost of Rs 700 crore, has 11 towers.

The Authority will also auction 963 2BHK MIG flats located in Dwarka’s Sector 14 and Lok Nayak Puram, a locality in West Delhi that the DDA is developing.

Pricing

The reserve prices for luxury penthouses and Super HIG flats will start from Rs 5 crore and Rs 2.5 crore, respectively. The reserve price for HIG apartments has been kept at Rs 1.4 crore. The reserve prices of MIG flats start from Rs 1 crore.

The official quoted above said that unlike other DDA schemes, where flats are allotted on a first-come-first-served basis, the penthouses, other luxury apartments, and MIG flats in Dwarka and Lok Nayak Puram will be allotted through an e-auction.

“The e-auction process for allotment of the luxury and MIG segment was chosen after consultations with real estate experts on pricing the flats. These apartments are situated at prime locations in proximity to IGI Airport, an upcoming golf course, a metro station and a convention centre, so the pricing is justifiable,” the official said.

Officials said that the penthouses will also have terrace gardens, and the luxury housing complex in Sector 19B will have larger-than-usual green spaces. According to the officials, property visits are being facilitated for potential buyers after they register on the DDA portal.

The Authority also set up two camps last week at the Dwarka sector 19B housing complex to facilitate physical visits by potential homebuyers.