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Published on Wed Apr 03 2024 | The Indian Express Dwarka Delhi Development Authority (DDA) Real Estate Regulations Authority (RERA)
The DDA’s Golf View apartments boast of having over 1,100 luxury flats -- 14 penthouses, 170 Super High-Income Group (S-HIG) residences, and 946 HIG flats.
Pulling up the Delhi Development Authority (DDA) for not registering its Dwarka Sector 19B project selling luxury flats before advertisement and sales, the Real Estate Regulations Authority (RERA) has asked it to explain within three weeks why proceedings should not be initiated against it. After the land authority submitted the complete application on March 15, RERA registered the project.
The DDA’s Golf View apartments boast of having over 1,100 luxury flats — 14 penthouses, 170 Super High-Income Group (S-HIG) residences, and 946 HIG flats. The complex, consisting of 11 towers, will face an 18-hole golf course in Dwarka which is still under development. The auctions of the luxury flats saw a hugely positive response and fierce competition amongst bidders. The DDA had noted during its first round of auctions that it had received an 80% premium in some cases.
In December last year, RERA notified the DDA of its violation of Section 3 of the RE(RD) Act which bars advertisements, marketing, booking, or sale without registration of the project. According to the RERA website, the DDA applied for registration on October 26. However, as per the RERA Chairman, the DDA had submitted a single-page application without relevant documents or even filling the registration fee in June last year. The registration fee was then submitted in September.
On March 15 this year, RERA again notified the DDA to submit relevant documents to register the Golf View project. According to RERA officials, the real estate body received documents the same day and the registration was completed on April 2.
However, the registry was accompanied by an order from RERA to the DDA to explain why it should not be penalised, along with a directive to open an escrow account where the allottees’ money could be safely kept.
DDA officials told The Indian Express: “We have received approval of RERA for the flats. As regards the query on delays, the same is being responded to appropriately.” While the DDA has mentioned in its brochure that the project is to be completed by June 2024, it has notified the real estate body that it will, at most, complete the project by October this year, after which they are subject to RERA’s actions against it, said RERA sources.
In its first round of auctions, the land authority had recovered over Rs 69.94 crore as premium in sales, with Rs 61.5 crore coming from the sale of Super HIG flats alone. The penthouses managed to rake in a premium of Rs 2.12 crore. The highest bid for Super HIG flats went up to Rs 4.5 crore and that for the penthouses went up to Rs 5.76 crore. The DDA had initially set the bar at Rs 2.5 crore for super-HIG flats and Rs 5 crore for the penthouses.
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