The Delhi Development Authority is set to conduct a live e-auction spanning two days.
The Delhi Development Authority is set to commence an e-auction at 11 am today for the allocation of around 2093 newly constructed, high-quality flats. These ready-to-move-in flats, some of which are nearing completion and will be available for possession soon, are located in Dwarka (Sectors 19b and 14) and Loknayakpuram, New Delhi. The e-auction falls under the “Diwali Special Housing Scheme 2023,” facilitating the disposal of these premium flats.
The DDA had launched the Diwali Special Housing Scheme 2023 (e-auction) on November 30, 2023, for which the last date of EMD submission was December 29, 2023, and the final submission date of the application was January 1, 2024.
The e-auction process will involve a total of 3055 participants who have paid the EMD charges for the flats.
Attention Bidders!
Schedule of Live e-Auction for #DDA Festival Dhamaka Scheme available on DDA’s website.
E-Auction starts on 05.01.2024 from 11:00 AM onwards
Visit https://t.co/1PLCrBJ1xW for more information. pic.twitter.com/3OTqLnuHLg
— Delhi Development Authority (@official_dda) January 3, 2024
As per the December 2023 DDA notification, individuals seeking to participate in the bidding process were obligated to submit Earnest Money Deposit (EMD) charges for the respective flats. These charges amounted to Rs 10 lakh for MIG-2BHK, Rs 15 lakh for HIG-3BHK, Rs 20 lakh for Super HIG-4BHK, and Rs 25 lakh for Penthouse-5BHK.
As outlined in the e-services notification from DDA, the e-auction for penthouses and MIG flats is scheduled to commence on January 5 at 11 a.m. and conclude at 12 p.m. The Super HIG e-auction will take place from 3 to 4 p.m. Additionally, the e-auction for HIG flats will occur on January 6 in two sessions: from 11 a.m. to 12 p.m. and from 3 pm to 4 pm.
Initially, the bidding process will last for one hour, and if in the last five minutes, any higher bid is placed, the bidding process will automatically be extended by five minutes. This process will be continued for a maximum of 20 times. So, any auction can go for a maximum period of 2 hours and 40 minutes (i.e., the initial 1 hour plus 20 x 5 minutes).
Source link: https://www.ndtv.com/india-news/delhi-development-authoritys-e-auction-for-over-2-000-flats-begins-today-4803065