DDA e-auction for Dwarka Housing Scheme flats goes live: How can you participate

DDA e-auction: The Delhi Development Authority's (DDA) e-auction process for flats under the Dwarka Housing Scheme 2024 is live now.  Under the latest drive, houses in various categories including Penthouse, Super HIG, HIG, and MIG in Sector 14, 16B and 19B will be auctioned. The live e-Auction session will be held every day for 1 hour from today till September 26 in two slots: the first one at 11.00 am to 12.00 pm and the second one at 3.00 pm-4.00 pm.

As per the Delhi Development Authority's official notification, it has been stipulated that the bidding process will commence for a duration of one hour. If an increased bid is submitted within the final 5 minutes of this initial hour, the bidding procedure will automatically undergo an extension of 5 minutes. This system of extension will be repeated for a maximum of 20 cycles.

Consequently, any given auction has the potential to run for a maximum period of 2 hours and 40 minutes, comprising the initial 1-hour duration and 20 subsequent 5-minute extensions. Hence, the e-auction may be prolonged until 01.40 PM (Morning Session) or 05.40 PM (Afternoon Session), depending upon the number of iterations.

“Initially the bidding process will be for one hour and if in the last 5 minutes, any higher bid is placed, the bidding process will automatically be extended by 5 minutes. This process will be continued for a maximum of 20 times. So, any auction can go for a maximum period of 2 hours and 40 minutes (i.e., initial 1 hour plus 20 x 5 minutes). Therefore, the e-Auction can carry on till 01.40 PM (Morning Session) or 05.40 PM (Afternoon Session) depending on the number of extensions," DDA said in the notification.

Steps to join the e-auction:

> Go to the following website: https://dda.etender.sbi/SBI/

> Upon arrival, kindly navigate to the 'login' section and input your designated username and password, along with the verification code or Captcha for security purposes.

> After successfully logging in, locate and click on the 'Auction' option located on the left-hand tab of the screen.

> Once in the 'Auction' section, select the 'Live' tab to gain access to all ongoing auctions.

> Choose a property of interest and proceed by clicking on the designated 'Click here to bid' option.

> Subsequently, review the terms and conditions presented. Following this, select 'I Agree' and proceed by clicking the 'Agree' button.

> At this point, you have successfully entered the Bidding/Auction hall.

> Within this section, you will be able to identify the properties scheduled for auction that align with your final submission.

Three housing schemes

The DDA recently initiated three housing schemes on August 20, including the Sasta Ghar Scheme comprising 7,124 flats for economically weaker sections (EWS) and lower-income groups (LIG), the Madhyam Vargiya Housing Scheme offering 1,843 flats for EWS, middle-income groups (MIG), and higher-income groups (HIG), as well as the Dwarka Housing Scheme featuring 173 flats. These schemes are distributed across seven prime locations in the capital city.

The allocation of apartments in the first two schemes was conducted on a first-come, first-serve basis, ensuring fairness in the selection process. Concurrently, an e-auction was held for penthouses, super HIG, HIG, and MIG categories in different sectors of Dwarka, catering to diverse residential preferences.

For the Dwarka flats scheme, the deadline for earnest money deposit (EMD) submission was set on September 17th, followed by the final submission deadline for applications on September 19th. This comprehensive timeline allowed interested participants to adhere to the necessary requirements and procedures for acquiring flats in the prestigious Dwarka area.