Amid growing demand for its housing schemes, DDA records Rs 1,371-cr surplus in year 2024-25
In 2022-23, the GDA was in a substantial loss of Rs 1,304 crore. It, however, registered a significant surplus of Rs 511 crore in 2023-24 for the first time in 12 years, it added.
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Key reforms undertaken by DDA included shifting to a first-come-first-serve model, scrapping ownership restrictions, and launching a professional marketing strategy. The Delhi Development Authority (DDA) has posted a record surplus of Rs 1,371 crore in financial year 2024-25 – primarily owing to a growing acceptance of its housing schemes – marking an increase of 169% over last year’s surplus of Rs 511 crore, a statement issued by the DDA said on Wednesday.
This is the second consecutive year when DDA has recorded surplus revenue under the General Development Account (GDA), reversing the revenue-deficit trend of 12 consecutive years, the statement added. The surplus was largely driven by the sale of over 8,500 housing units, generating a revenue of more than Rs 3,100 crore in 2024-25, it said.
The DDA said the turnaround began under the guidance of Lieutenant Governor V K Saxena. Saxena, who is the chairman of the DDA, took charge in May 2022 at a time when the DDA was incurring “huge losses” mainly due to a large number of unsold inventory of flats, the statement said.
In 2022-23, the GDA was in a substantial loss of Rs 1,304 crore. It, however, registered a significant surplus of Rs 511 crore in 2023-24 for the first time in 12 years, it added.
According to the data up to March 31, DDA has registered a steep and steady upward trend in the actual surplus in the GDA. In 2024-25, the total receipts under the GDA stood at Rs 3,477 crore, while the total expenditure was Rs 2,106 crore.
“The growth in GDA is primarily on the back of rising trajectory of the housing receipts, from Rs 665 crore in 2022-23 to Rs 2,398 crore in 2023-24, which is an upswing of about 260% in the total housing collections,” the DDA said.
Key reforms undertaken by DDA included shifting to a first-come-first-serve model, scrapping ownership restrictions, and launching a professional marketing strategy. Narela, where many unsold flats were located, has seen renewed interest with proposed Metro connectivity and civic projects in the pipeline, it added.
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