To boost sales of its flats, Delhi development authority plans 'dynamic pricing'

To boost sales of its flats, Delhi development authority plans ‘dynamic pricing’

NEW DELHI: The Delhi Development Authority (DDA) is working on several measures, including
dynamic pricing, to increase the sales of flats lying unsold as well as upcoming inventory, mostly EWS
and LIG.
“Besides setting sales targets and stressing on improving infrastructure facilities and connectivity around
upcoming housing projects, we are considering adopting the concept of dynamic pricing, which means
fixing the prices of flats in a holistic manner. At present, we are reviewing its legal viability,” said an
official.
“As of now, we sell flats based on their cost but we are contemplating reducing the prices of EWS flats in
far sub-cities by a few lakhs to increase sales and bridge the gap by raising the prices of premium flats atprominent locations a bit,” he added.

DDA has an old unsold inventory of over 16,000 flats that were deemed too costly and lacked Metro
connectivity. The authority is planning to come up with its housing scheme 2023 in May-end, with an
inventory of nearly 23,000 EWS and LIG flats, mostly in Narela sub-city. With this, DDA will have a
total of 40,000 unsold flats, most of them small and located mainly in Narela.
“In order to improve saleability of these flats, DDA had undertaken various remedial measures, including
improvement of transport infrastructure, construction of Urban Extension Road-II, permitting
amalgamation of flats, allotment on first-come-first serve basis and concession to buyers,” said an official.

DDA has projected revenues of Rs 4,310 crores on account of sale of additional inventory of existing
housing projects nearing completion in the 2023-24 budget. It is expected that completion of Urban
Extension Road-II connecting NH-8 to NH-2 and the proposed Metro line Phase IV will give a fillip to
demand for DDA flats in Narela, said an official.
“We are supporting the two infrastructure projects and funded them too. The UER project is expected to
complete by August 15 and the Metro line will cover the Bawana-Narela route. We are developing
facilities for Safal, Mother Dairy and other booths. We expect good demand for flats in Narela in the
coming days,” said the official.