The Delhi Development Authority (DDA) is going to auction 118 premium residential plots in Sector D-6 of Vasantkunj, South Delhi. This scheme is to meet the increasing demand for plotted housing in this popular area of Delhi. DDA has started a tender with an estimated cost of Rs 7.5 crore to appoint an agency for plot infrastructure development.
The development plan includes a 12 -month time limit, which is divided into two stages. The first three months are to prepare engineering drawing and take approval. The next nine months will be focused on the construction of infrastructure such as roads, rainwater drainage, sewerage, and water supply. The maximum time for planning and design, including an inquiry by the competent authority, is three months.
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Preparation to improve parking facilities
In addition, the DDA D6 is planning to improve parking facilities for the mega housing complex, which has around 1,904 flats. This includes two -level deck parking and expansion of parking areas on the surface, so that the existing parking congestion in the area can be reduced. Also, surface parking for Ganga, Yamuna, Narmada and Saraswati blocks will also be advanced, so that the old parking problem in the area can be reduced.
Vasantkunj of Delhi is famous for its premium location. It is close to Indira Gandhi International Airport, Premium Shopping Mall, Green areas and top educational institutions. The availability of freehold plots in this field is very difficult, which increases their uniqueness and the possibility of investment.
The infrastructure of Rs 7.5 crore will be borne by DDA, which will not be taken directly from buyers. However, due to better infrastructure, premium prices are expected to be higher in auction. Historically, the price of plots in magnificent areas such as Vasant Kunj has been steadily increasing over time.
Advice for buyers?
Potential buyers are advised to consider financeing and eligibility options before participating in auction.
Because not all bank plots give loans for purchase. It is necessary to get information about loan-to-value ratio and other financial conditions. Buyers should also take into account additional expenses like stamp duty, registration fee and annual property tax.
At present, information about the size and Aadhaar prices of plots has not been given. Interested people should monitor DDA notifications to understand the terms of auction and eligibility requirements. It is estimated that the premium rates in the region can be more than Rs 1 lakh per sq ft.
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