The Delhi Development Authority (DDA) is set to kick off the much-anticipated e-auction for its luxury flats in Dwarka, under the Dwarka Housing Scheme 2024. From September 24, 2024, buyers can bid for a variety of homes, including penthouses, Super HIG, HIG, and MIG category flats. These properties are located in different sectors of Dwarka and are expected to attract a large number of bidders. The auction will be held in two parts, with the first session from 11 am to 12 pm, and the second from 3 pm to 4 pm.
Key Highlights of the Dwarka E-Auction
DDA had previously introduced three housing schemes in August 2024 – the Affordable Home Scheme, Middle-Class Housing Scheme, and the Dwarka Housing Scheme. A total of 173 flats under the Dwarka scheme are up for sale via e-auction, while 7,124 EWS and LIG flats are available under the affordable housing scheme.
The uniqueness of this e-auction lies in the method used to sell these flats. Unlike the Affordable and Middle-Class Housing schemes, where flats were sold on a ‘first-come, first-served’ basis, the flats in the Dwarka Housing Scheme will be sold through an online bidding process. Buyers had to submit their Earnest Money Deposit (EMD) by 17 September and complete their applications by 19 September.
E-Auction Timings and Schedule
The e-auction will run from 24 to 26 September 2024, with two auction slots each day. The first session will take place from 11 am to 12 pm, and the second from 3 pm to 4 pm. If a bid is placed within the last 5 minutes of any session, the auction will automatically be extended by an additional 5 minutes. This process can continue up to a maximum of 20 times, which means an auction could last for as long as 2 hours and 40 minutes in total.
High Demand for Luxury Flats in Dwarka
The DDA’s e-auction has garnered significant attention, with more than 2,000 applicants having already submitted their EMD for just 173 flats. Officials are confident that all available properties will be sold during the auction period, given the overwhelming interest.
An official from DDA noted that there’s been strong demand for flats across other schemes as well, especially with Navratri approaching. Out of the total 8,967 flats offered under various schemes, around 1,700 have already been sold. Notably, 41 flats in Jasola were sold on the first day itself, and over 700 flats in Rohini were sold within 10 days under the ‘first-come, first-served’ model.
Why This Auction is a Big Deal
The Dwarka Housing Scheme offers an excellent opportunity for homebuyers to invest in high-end luxury flats in one of Delhi’s prime areas. With properties ranging from MIG flats to Super HIG penthouses, these homes offer a blend of comfort and modern amenities. Moreover, the transparent e-auction process ensures that buyers can participate from the comfort of their homes without the need to navigate any intermediaries.
