To boost sales of its flats, Delhi development authority plans ‘dynamic pricing’

April 13, 2023

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NEW DELHI: The Delhi Development Authority (DDA) is working on several measures, including dynamic pricing, to increase the sales of flats lying unsold as well as upcoming inventory, mostly EWS and LIG.

“Besides setting sales targets and stressing on improving infrastructure facilities and connectivity around upcoming housing projects, we are considering adopting the concept of dynamic pricing, which means fixing the prices of flats in a holistic manner. At present, we are reviewing its legal viability,” said an official.

“As of now, we sell flats based on their cost but we are contemplating reducing the prices of EWS flats in far sub-cities by a few lakhs to increase sales and bridge the gap by raising the prices of premium flats at prominent locations a bit,” he added.

DDA has an old unsold inventory of over 16,000 flats that were deemed too costly and lacked Metro connectivity. The authority is planning to come up with its housing scheme 2023 in May-end, with an inventory of nearly 23,000 EWS and LIG flats, mostly in Narela sub-city. With this, DDA will have a total of 40,000 unsold flats, most of them small and located mainly in Narela.

“In order to improve saleability of these flats, DDA had undertaken various remedial measures, including improvement of transport infrastructure, construction of Urban Extension Road-II, permitting amalgamation of flats, allotment on first-come-first serve basis and concession to buyers,” said an official.

DDA has projected revenues of Rs 4,310 crores on account of sale of additional inventory of existing housing projects nearing completion in the 2023-24 budget. It is expected that completion of Urban Extension Road-II connecting NH-8 to NH-2 and the proposed Metro line Phase IV will give a fillip to demand for DDA flats in Narela, said an official.

“We are supporting the two infrastructure projects and funded them too. The UER project is expected to complete by August 15 and the Metro line will cover the Bawana-Narela route. We are developing facilities for Safal, Mother Dairy and other booths. We expect good demand for flats in Narela in the coming days,” said the official.

  • Published On Apr 13, 2023 at 09:16 AM IST

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