The Delhi Development Authority (DDA) is holding a mega e-auction of over 450 properties in Delhi. The auction will be held online from October 22-24, 2023. The properties on offer include residential plots, commercial plots, and shops.
How to Bid in the DDA Mega E-Auction
A one-time online registration fee of Rs 2000 + GST of 18 per cent should be paid by bidders for built-up units, shops, offices and commercial properties.
All bidders must quote a rate for the property in the e-auction, which should be more than the reserve price of the listed property.
For built-up shop units and plots, bidders must submit 25% of the reserve price as Earnest Money Deposit (EMD) per unit during the online payment process via the e-auction portal.
After the letter of intent is received, the buyer is required to pay 25% of the quoted price within the next seven days.
Physical possession of the property should be taken within 30 days after the issuance of the property handover letter.
Plot Auction Dates
November 7: Bidding for function sites, kiosks, mobile tower sites, CNG fuel sites and institutional plots.November 8: Bid for industrial and residential plots.November 9: Auction for commercial and group housing plots, Janak place shops, and built-up shops.
Furthermore, it is important to note that in any category, DDA can withdraw all or any units for no reason at any stage before delivering the property to the successful bidder. To make bidding easier, DDA has provided QR codes in the advertisements for getting more information on the properties as well as details of the auction process.
To bid in the DDA mega e-auction, you will need to:
- Register on the DDA e-auction portal: You can register on the portal at https://ddaeauction.ewizard.in or www.dda.gov.in. You will need to provide your personal details, such as your name, address, and contact information.
- Obtain a digital signature: A digital signature is mandatory for participating in the DDA e-auction. You can obtain a digital signature from a certified authority.
- Deposit earnest money: You will need to deposit earnest money for each property that you want to bid on. The amount of earnest money required will vary depending on the property.
- Place your bid: Once you have deposited earnest money, you can place your bid on the DDA e-auction portal. The auction will be held online, and you will be able to see the bids of other participants in real time.
- Pay the balance amount: If you are the highest bidder, you will need to pay the balance amount of the bid price within a specified period of time. If you fail to pay the balance amount, your earnest money will be forfeited.
Eligibility Criteria for Bidding in the DDA Mega E-Auction
To be eligible to bid in the DDA mega e-auction, you must:
- Be an Indian citizen.
- Be of legal age (18 years or above).
- Have a valid PAN card.
- Have a valid bank account.
Properties on Offer in the DDA Mega E-Auction
These properties are divided into 12 categories, such as institutional plots, industrial plots and residential plots, among others. However, this list also features 16 mobile tower sites, 50 institutional plots (which include 20 religious plots), 145 built-up shops (freehold), 13 Janak Place plots (freehold), and 2 CNG or green fuel sites. This DDA e-auction is slated to be held from November 7 to November 9.
The last date for registration of the DDA mega e-auction is November 6. Interested buyers should complete the registration process first to participate in the bidding process.
The following types of properties are on offer in the DDA mega e-auction:
- Residential plots: The residential plots are located in various parts of Delhi, including Dwarka, Rohini, and Narela. The plot sizes range from 100 square meters to 500 square meters.
- Commercial plots: The commercial plots are located in various commercial areas of Delhi, such as Connaught Place, Janakpuri, and Lajpat Nagar. The plot sizes range from 100 square meters to 1000 square meters.
- Shops: The shops are located in various commercial markets of Delhi, such as Sarojini Nagar, Lajpat Nagar, and Karol Bagh. The shop sizes range from 10 square meters to 100 square meters.
How to Choose the Right Property for You
When choosing a property to bid on in the DDA mega e-auction, you should consider the following factors:
- Location: The location of the property is one of the most important factors to consider. Choose a property that is located in a desirable area with good connectivity to other parts of Delhi.
- Size: Choose a property that is the right size for your needs. If you are buying a residential plot, make sure that it is large enough to build your dream home. If you are buying a commercial plot, make sure that it is large enough to start your business.
- Budget: Set a budget before you start bidding and stick to it. Do not overspend on a property.
Tips for Bidding in the DDA Mega E-Auction
Here are some tips for bidding in the DDA mega e-auction:
- Do your research: Before you bid on any property, make sure to do your research and understand the value of the property. You can check the DDA website to view information about the properties that are being auctioned.
- Bid early: The bidding process will be competitive, so it is important to bid early. If you wait until the last minute, you may miss out on the property you want.
- Be patient: The bidding process can be slow and tedious. Be patient and do not get frustrated.
- Have a backup plan: If you are not successful in bidding on your first choice of property, have a backup plan. There will be other properties available for auction.
The DDA mega e-auction is a great opportunity to buy a property in Delhi at a competitive price. However, it is important to do your research and bid wisely. By following the tips above, you can increase your chances of success in the auction.