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.

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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

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