DDA released Rs 460 cr to 2,300 bidders in housing scheme in record time

The Delhi Development Authority has released more than Rs 460 crore to over 2,300 bidders in its recent and ongoing housing scheme in record time, according to an official statement on Sunday.

Lt Governor VK Saxena had instructed the Delhi Development Authority (DDA) to credit Earnest Money Deposits (EMDs) in the bank accounts of applicants within 15 days to ensure that they do not face harassment and red tape, it stated.

"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 said.

"Saxena had directed the DDA to ensure that EMDs are released to the applicants within 15 days and asked for strict compliance to procedures that ensured that no applicant has to approach the DDA for his EMD or is harassed by red tape," it said.

EMDs of all but 50 bidders have been credited to their bank accounts. The remaining is held up due to various procedural issues with the banks and will be credited soon, the statement said.

Under the guidance and direct supervision of Saxena, who is also the DDA chairman, the authority has been able to sell more than 8,000 flats from its pending inventory during the past year, it stated.

Phase-II of the e-auction being undertaken for the ongoing housing scheme has seven penthouses, 32 Super HIG and 476 HIG flats in Sector 19B of Dwarka and 192 MIG flats in Dwarka's Sector 14.

Apart from this, the first-cum-first-serve scheme for various other flats spread across the city is also operational, the statement added.