DDA Launches E-auction for 257 Luxury Apartments in Dwarka, Including Penthouses

The Delhi Development Authority (DDA) commences the third phase of its e-auction today, putting 257 luxury apartments, including exclusive penthouses and a variety of high and mid-segment flats, on the market in New Delhi's Dwarka neighborhood. This auction event marks a significant opportunity for those looking to invest in high-end residential properties in one of the city's most sought-after locales.

Auction Details and Offerings

Scheduled to start at 11 am, the auction will showcase an array of properties, featuring two penthouses and 123 luxury flats, alongside 132 mid-segment (MIG) apartments located in Dwarka’s Sector 14. The prestigious higher-income group (HIG) apartments and the duplex penthouses are nestled in Sector 19B, offering breathtaking views and unparalleled amenities.

The auction for the duplex penthouses and MIG flats is set exclusively for March 5, while the HIG apartments will be available for bidding from March 5 through March 7. With only two of the originally built 14 penthouses remaining, interest in these exclusive properties is expected to be high.

Reserve Prices and Luxury Amenities

The reserve prices are set at Rs 5 crore for a penthouse and Rs 2.05 crore for 3 BHK HIG apartments, with MIG 2 BHK units starting at Rs 1.2 crore. These dwellings are part of a high-end housing complex in Sector 19B, adjacent to an upcoming 18-hole golf course in Sector 24. Boasting an estimated construction cost of Rs 700 crore and 11 towers, the complex is designed to offer more than just homes, with penthouses featuring terrace gardens and the entire complex promising expansive green spaces.

Previous Auctions and the Festival Special Housing Scheme

The DDA's e-auction initiative previously saw 274 of 296 apartments booked during its first round on January 5, followed by another round on February 5 offering 707 apartments. These apartments are part of the DDA’s Festival Special Housing Scheme 2023, which includes a total of 32,000 flats across various categories including penthouses, Super HIG, HIG, MIG, LIG, and EWS.

In contrast to the penthouses, Super HIG, HIG, and MIG apartments being auctioned in phases, the LIG and EWS flats are being allotted based on a "first come first serve" principle, highlighting the DDA's effort to cater to a wide spectrum of housing needs and preferences.