DDA Releases Over Rs 460 Crore to 2,300 Bidders in Record Time

22 Jan 2024 CW Team

Lt Governor VK Saxena, also the DDA chairman, had specifically instructed the DDA to credit Earnest Money Deposits (EMDs) to the bank accounts of applicants within 15 days. The primary goal was to alleviate any potential harassment or bureaucratic red tape that applicants might face during the process.

"In a record of sorts, that is indicative of the changing work culture at the DDA, the agency has already released more than Rs 460 crore deposited with it as EMD by about 2,300 bidders in its recent and ongoing housing scheme. In doing so, the DDA has bettered many private and corporate builders and real estate companies," the statement highlighted.

The directive from Lt Governor Saxena emphasized strict compliance with procedures to ensure that no applicant had to approach the DDA for their EMD or face unnecessary hurdles. As a result, EMDs for all but 50 bidders have already been credited to their respective bank accounts. The remaining 50, the statement explained, are experiencing delays due to procedural issues with banks and will be credited shortly.

Under the vigilant guidance and direct supervision of Lt Governor Saxena, the DDA has made significant strides in addressing its pending inventory. The authority managed to sell more than 8,000 flats in the past year alone, a commendable accomplishment reflecting the positive impact of the changing work culture at the DDA.

The ongoing housing scheme's Phase-II features an e-auction with seven penthouses, 32 Super HIG, and 476 HIG flats in Sector 19B of Dwarka, along with 192 MIG flats in Dwarka's Sector 14. Additionally, the first-cum-first-serve scheme for various flats across the city is also operational, providing ample opportunities for potential homeowners.

The DDA's proactive approach under Lt Governor Saxena's leadership not only ensures a streamlined process for applicants but also positions the authority ahead of many private and corporate players in the real estate sector. The successful release of EMDs in record time is a testament to the DDA's commitment to transparency and efficiency in its housing schemes.

In an unprecedented display of efficiency, the Delhi Development Authority (DDA) has successfully disbursed more than Rs 460 crore to over 2,300 bidders participating in its recent and ongoing housing scheme. The official statement released on Sunday highlighted the remarkable achievement, attributing it to the swift implementation of Lt Governor VK Saxena's directive. Lt Governor VK Saxena, also the DDA chairman, had specifically instructed the DDA to credit Earnest Money Deposits (EMDs) to the bank accounts of applicants within 15 days. The primary goal was to alleviate any potential harassment or bureaucratic red tape that applicants might face during the process. In a record of sorts, that is indicative of the changing work culture at the DDA, the agency has already released more than Rs 460 crore deposited with it as EMD by about 2,300 bidders in its recent and ongoing housing scheme. In doing so, the DDA has bettered many private and corporate builders and real estate companies, the statement highlighted. The directive from Lt Governor Saxena emphasized strict compliance with procedures to ensure that no applicant had to approach the DDA for their EMD or face unnecessary hurdles. As a result, EMDs for all but 50 bidders have already been credited to their respective bank accounts. The remaining 50, the statement explained, are experiencing delays due to procedural issues with banks and will be credited shortly. Under the vigilant guidance and direct supervision of Lt Governor Saxena, the DDA has made significant strides in addressing its pending inventory. The authority managed to sell more than 8,000 flats in the past year alone, a commendable accomplishment reflecting the positive impact of the changing work culture at the DDA. The ongoing housing scheme's Phase-II features an e-auction with seven penthouses, 32 Super HIG, and 476 HIG flats in Sector 19B of Dwarka, along with 192 MIG flats in Dwarka's Sector 14. Additionally, the first-cum-first-serve scheme for various flats across the city is also operational, providing ample opportunities for potential homeowners. The DDA's proactive approach under Lt Governor Saxena's leadership not only ensures a streamlined process for applicants but also positions the authority ahead of many private and corporate players in the real estate sector. The successful release of EMDs in record time is a testament to the DDA's commitment to transparency and efficiency in its housing schemes.

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