Dedicated locality research platform
Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
The Delhi Development Authority (DDA) is exploring several measures, including the introduction of dynamic pricing, to enhance sales of unsold and upcoming flats, primarily targeting Economically Weaker Section (EWS) and Low Income Group (LIG) housing. With over 16,000 unsold flats in its inventory and an additional 23,000 EWS and LIG flats set to launch under the 2023 housing scheme in May, the DDA is seeking innovative ways to increase sales and reduce its inventory backlog.
An official stated that the DDA is considering reducing EWS flat prices in distant sub-cities by a few lakhs, while slightly raising prices for premium flats in more prominent locations. This dynamic pricing approach would aim to balance overall revenues while making EWS and LIG flats more accessible to lower-income buyers. The official added that they are currently reviewing the legal viability of this pricing strategy.
To enhance the saleability of unsold flats, the DDA is undertaking various remedial measures, such as improving transport infrastructure, supporting infrastructure projects like Urban Extension Road-II, allowing amalgamation of flats, allotting flats on a first-come-first-serve basis, and providing concessions for buyers. These efforts aim to increase demand for DDA flats, particularly in Narela sub-city.
In the 2023-24 budget, DDA has projected revenues of Rs 4,310 crores from the sale of additional inventory for existing housing projects nearing completion. The completion of Urban Extension Road-II, which connects NH-8 to NH-2, and the proposed Metro line Phase IV are expected to boost demand for DDA flats in Narela.
Moreover, the DDA is developing facilities for Safal, Mother Dairy, and other booths to improve the overall quality of life for residents and increase the attractiveness of these properties. The official expressed optimism that the combined efforts of infrastructure improvements and dynamic pricing would result in a substantial increase in demand for flats in Narela in the coming days.
By investing in key infrastructure projects and adopting innovative pricing strategies, the DDA hopes to create a more balanced and accessible housing market for all income groups.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
