The Delhi Development Authority (DDA) is set to make a bold foray into the luxury housing segment, unveiling a collection of premium penthouses in Dwarkas Sector 19B. Anticipated to be ready for occupancy by December-end or January, these four-bedroom duplex apartments present a sophisticated living experience just 13 km from the Indira Gandhi International Airport. Read SURFACES REPORTER (SR)’s complete report below:
Registration and Auction Details:
Prospective homeowners can mark November 30 on their calendars as the registration process for these exclusive residences kicks off. The penthouses, boasting a generous plinth area of 424 sqm, will be auctioned with a reserve price of Rs 5 crore—a record-breaking figure for DDAs residential properties in the city. DDA Vice-Chairman Subhashish Panda predicts a swift booking process, underlining the high demand for these premium dwellings.
Luxury Society Complex
Part of a grander luxury society complex, these penthouses are among 1,130 flats, including 14 penthouses, 170 Super HIG flats, and 946 HIG Flats.
Valued at Rs 700 crore, the complex features 11 towers overlooking an under-development 18-hole golf course in Dwarka, offering residents the luxury of two car parking spaces per unit.
Pricing and Features
Beyond the penthouses, the society includes Super HIG flats with a reserve price of around Rs 2.5 crore and HIG flats at approximately Rs 1.4 crore. Additionally, the complex includes four towers providing 728 EWS flats.
DDA emphasizes the strategic location of these penthouses, positioned to overlook an upcoming golf course, proximity to a Metro station, and easy access to the airport. The residences boast terrace gardens, luxury sanitary fittings, and ample green space surrounded by residential towers.
Breaking away from past practices, DDA introduces an e-auction system for the allotment of these penthouses in Dwarka. This departure from the first-come-first-serve basis aims to enhance transparency and align with industry standards.
DDA officials consulted real estate experts for pricing determination, addressing concerns and streamlining the allocation process.
Mixed Reactions and Future Considerations
While some applaud DDAs venture into luxury housing, others express concerns about the high prices. DDA, grappling with challenges in recent years, seeks external assistance to boost sales and address inventory-related issues, marking a crucial phase in their real estate endeavors.