Delhi Development Authority likely to launch premium housing scheme, offering penthouses, around Diwali

The scheme will offer luxury apartments such as penthouses, HIG (high-income group) and Super HIG category flats located in Dwarka sector 19B and Vasant Kunj.

The Delhi Development Authority (DDA) is likely to launch its premium housing scheme in the festive season around Diwali. Under the scheme, nearly 3,000 premium apartments, including penthouses, located in areas like Dwarka and Vasant Kunj among others, are likely to be put for sale, sources privy to the development said.

The exact number of flats to be offered under the scheme may vary as several units are under construction at present. The flats will be offered through a draw of lots.

“The scheme will offer luxury apartments such as penthouses, HIG (high-income group) and Super HIG category flats located in Dwarka sector 19B and Vasant Kunj. The prices for these units are yet to be decided,” the source told Moneycontrol.

He said that the luxury penthouses and terrace gardens will overlook a golf course spread across Sectors 19 and 24. They said that the area of the penthouses is likely to be around 266 square metres (sqm) – about 2,860 square feet – and the HIG flats are likely to be offered in two sizes – 129 sqm and 150 sqm.

Sources also said that the housing scheme is also likely to feature MIG (mid-income group) and EWS (economically weaker section) flats in Dwarka Sector 14 and Lok Nayak Puram, respectively.

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Ashish MIshra

Principal Correspondent|Moneycontrol

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The DDA had on June 30 launched its housing scheme where 5,600 flats in the 1, 2 and 3 BHK categories were put for sale in Jasola, Rohini, Dwarka, Lok Nayak Puram, Narela and Siraspur areas of the national capital. But till August last week the authority could sell only around 1,800 flats.

Unsold flats

In August, the Authority had engaged a real estate consultant Anarock to improve sales and clear its inventory, which stands at around 40,000 unsold flats. The consultant will conduct a study on the demand of the real estate market for DDA and also understand the sentiments of buyers. It will suggest ways to improve sales.

Sources said that the consultant is likely to give its report in a month’s time. The recommendations of the report will also be incorporated into the upcoming housing scheme.

“The idea of the premium housing scheme is at a nascent stage and modalities of the scheme are still being worked out. There may be some changes in the number of flats to be offered, prices, eligibility criteria, etc, in the final proposal after approval from the Authority board meeting,” the source said.

To boost sales and attract more applications, the DDA in its board meeting in August had approved amendments in its housing regulations to enable people to buy DDA properties even if they already own a flat or plot in the national capital.