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DDA releases ₹460cr EMD to 2,300 bidders
An LG official said that DDA has performed better than many private and corporate builders in releasing EMDs
The Delhi Development Authority has released ₹460 crore of earnest money deposits (EMDs) to 2,300 bidders who participated in the recent housing scheme under an expedited process, officials said on Sunday.
An LG official said that DDA has performed better than many private and corporate builders in releasing EMDs. “LG VK Saxena had directed DDA to ensure that EMDs are released to the applicants within 15 days and asked for strict compliance to procedures,” an official said.
The official added that EMDs of all but 50 bidders have been credited to their bank accounts and the remaining cases, which are held up due to various procedural issues with the banks, will be credited soon. Saxena is also the chairman of DDA.
The official added that DDA has been able to sell more than 8,000 flats out of its pending inventory during the past year. “In the second phase of the e-auction being undertaken for the ongoing housing scheme penthouses, HIG flats in Sector 19B of Dwarka and 192 MIG Flats in Sector 14 Dwarka are being sold,” the official added.
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