E-auctions: DDA extends deadline for balance bid premium
Real Estate

E-auctions: DDA extends deadline for balance bid premium

The DDA has extended the deadline for submitting the balance 75% bid premium for successful bidders in the e-auction to July considering the financial distress of people during the second wave of Covid-19.

The Delhi Development Authority (DDA) announced the extension of the deadline in response to the coronavirus pandemic.

In times of financial hardships caused by the second wave of the Covid-19 pandemic, the DDA has given successful bidders an extension of time to submit the balance of their bid premium in e-auction cases.

Officials informed DDA is allowing a longer grace period for balance payments made on or after April 1 but before July 31.

In such cases, the deadline for paying the remaining 75% of the bid premium has been extended until July 31, subject to the payment of interest on the late payment.

The Delhi Development Authority was established to promote and secure the development of Delhi under the provisions of the Delhi Development Act.

The Delhi Development Authority (DDA) has played a critical role in the city's orderly yet rapid development. More than 11 million people call the city home, and the number continues to rise.

Image Source


Also read: DDA promotes affordable housing, will dispose group housing projects

The DDA has extended the deadline for submitting the balance 75% bid premium for successful bidders in the e-auction to July considering the financial distress of people during the second wave of Covid-19. The Delhi Development Authority (DDA) announced the extension of the deadline in response to the coronavirus pandemic. In times of financial hardships caused by the second wave of the Covid-19 pandemic, the DDA has given successful bidders an extension of time to submit the balance of their bid premium in e-auction cases. Officials informed DDA is allowing a longer grace period for balance payments made on or after April 1 but before July 31. In such cases, the deadline for paying the remaining 75% of the bid premium has been extended until July 31, subject to the payment of interest on the late payment. The Delhi Development Authority was established to promote and secure the development of Delhi under the provisions of the Delhi Development Act. The Delhi Development Authority (DDA) has played a critical role in the city's orderly yet rapid development. More than 11 million people call the city home, and the number continues to rise. Image Source Also read: DDA promotes affordable housing, will dispose group housing projects

Next Story
Infrastructure Energy

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Next Story
Infrastructure Urban

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Next Story
Infrastructure Energy

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?