Dwarka luxury flat project will be finished by June end: DDA allays fears of delay

Earlier in April, the land authority was pulled up by the Real Estate Regulatory Authority (RERA) for not registering the Dwarka 19B Golf View Condos project before advertisement and sales. It was also notified that it had three weeks to respond to RERA on why action should not be taken against them. While the DDA’s brochure had mentioned that the flats would be handed over to the allottees by June, it notified RERA that the project would, at most, be completed by October.

The condos were the DDA’s first segue into luxury real estate, launched just after Diwali last year in November. The project offered 14 penthouses, 170 Super HIG flats, and 946 HIG flats via e-auction and saw an enthusiastic response from buyers. According to officials, the DDA sold out all penthouses and Super HIG flats while around 940 HIG flats were booked. The complex, consisting of 11 towers, will face an 18-hole golf course in Dwarka.

Meanwhile, allottees had flagged several issues concerning the quality of construction of the luxury condos — rusted iron fittings, seepage issues, uncured cement walls that are already crumbling, peeling paint and plaster, among others.

The possibility of the project’s late delivery only added to their worries. “We have paid 75% of the amount already… our loan EMIs get deducted and we pay rent on top of that. Almost 70% of my income goes into this,” said Vikrant Khattar, a HIG flat owner.

The DDA, on the other hand, maintained that it has delivered high-quality flats before and shall continue to do so. Additionally, the land authority has also assigned a nodal officer for each tower to closely monitor the progress and quality of work, said DDA officials.

The lack of a nodal officer was also a frequently discussed issue amongst allottees. “In case we had doubts about the payment for the flat, on whether there would be a 10% interest charge on the amount we are yet to pay or the total cost of the flat… we had to run from pillar to post… we didn’t know which department would address these issues,” said an allottee who did not wish to be named.

In its first round of auctions, the land authority had recovered over Rs 69.94 crore as premium in sales, with Rs 61.5 crore coming from the sale of Super HIG flats alone. The penthouses managed to rake in a premium of Rs 2.12 crore. The highest bid for Super HIG flats went up to Rs 4.5 crore and that for the penthouses went up to Rs 5.76 crore. The DDA had initially set the bar at Rs 2.5 crore for super-HIG flats and Rs 5 crore for the penthouses.

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