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representative imageNew Delhi: The Delhi Development Authority ,D.D.A) is working on a number of measures to increase the sale of unsold flats as well as incoming inventory, mostly EWS and LIG.
“Apart from setting sales targets and laying emphasis on improving infrastructure and connectivity around upcoming housing projects, we are looking at adopting the concept of dynamic pricing, which means fixing the prices of flats in a holistic manner. At present, we are reviewing its legal feasibility,” said an official.
“As of now, we sell flats on the basis of their cost, but we are looking at reducing the prices of EWS flats in remote sub-cities by a few lakhs and increasing the prices of premium flats in prime locations to increase sales. narrowing the gap,” he added.
D.D.A There is an old unsold inventory of over 16,000 flats which were considered too expensive and lacked metro connectivity. The authority is planning to come out with its housing plan 2023 by the end of May, listing around 23,000 EWS and LIG flats, mostly in the Narela sub-city. With this, the DDA will have a total of 40,000 unsold flats, most of which are small and mainly located in Narela.
“To improve the marketability of these flats, the DDA has taken various measures including improvement of transport infrastructure, construction of Urban Extension Road-II, allowing amalgamation of flats, allotment on first-come-first-served basis and concession to buyers. Remedial measures were taken,” said an official.
The DDA has estimated a revenue of Rs 4,310 crore on account of sale of additional inventory of existing housing projects to be completed in the 2023-24 budget. It is expected that the completion of Urban Extension Road-II connecting NH-8 to NH-2 and Phase IV of the proposed metro line will boost demand DDA Flats In Narela, an official said.
“We are supporting and funding two infrastructure projects as well. The UER project is expected to be completed by August 15 and the Metro line will cover the Bawana-Narela route. We are expecting a good demand for flats in Narela in the coming days.”
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