DDA’s 2-Day Live E-Auction for 2,093 Flats Begins, ET RealEstate

January 5, 2024
1 min read
ddas two day live e auction for 2093 flats begins


NEW DELHI: For the first time, Delhi Development Authority (DDA) will hold a two-day live e-auction for 2,093 flats, beginning 11am Friday.

The authority has received earnest money deposit (EMD) from 3,055 applicants who will be participating in the exercise. EMD is the booking amount deposited by people when they apply for flats after registration.

The flats, offered under the Diwali Special Housing Scheme 2023, include super HIG (170), HIG (946) and penthouses (14) in Dwarka Sector 19B; MIG (316) in Dwarka Sector 14; and MIG in Loknayak Puram (647). In all, a total of 1,130 luxury flats are on offer.

The tentative reserve prices are Rs 5 crore for the penthouses, Rs 2.5 crore for super HIG, Rs 2.1 crore for HIG, Rs 1.2-1.4 crore for MIG in Dwarka and Rs 1.1-1.2 crore for MIG in Loknayak Puram.

DDA had kept an EMD of Rs 10 lakh for MIG, Rs 15 lakh for HIG, Rs 20 lakh for super HIG and Rs 25 lakh for penthouses.

The authority said it had carried out demo sessions with the applicants to familiarise them with the process and taken on board SBI’s e-auctioning bidding platform to ensure the final auction is completed smoothly.

“Many applicants have already participated in the demo sessions that took place from January 2-4, wherein they were made aware about the process in detail. The entire process will be online, anonymous and bidders can participate from anywhere in the world,” said an official.

To prevent server issues and other confusion, DDA has kept different timings and days for e-auction of flats in various categories.

For penthouses and MIG, the e-auction will be held Friday from 11am to 12pm. For super HIG, it will be carried from 3pm to 4pm. For HIG, the e-auction will be held on January 6, Saturday, from 11am to 12pm for batch 1 of 430 flats and at 3pm for batch 2 of 516 flats, said the authority.

“Initially, the bidding process will be for one hour and if a higher bid is placed in the last five minutes, it will automatically be extended by that time. The process will be continued for a maximum of 20 times. So, any auction can be for a maximum period of two hours and 40 minutes,” said the official.

The applicants have been advised to go through the instructions, FAQs, demo YouTube video and read the terms and conditions of the scheme brochure, according to officials.

DDA had launched the scheme in November, offering 32,000 newly-constructed flats in Dwarka, Loknayak Puram and Narela. Of these, registration for about 28,000 LIG and EWS flats started on November 24 and the remaining flats on November 30.

  • Published On Jan 5, 2024 at 09:22 AM IST

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