The Delhi Growth Authority (DDA) has taken measures to deal with its losses by hiring a personal advertising and marketing company and an actual property advisor. These steps are being taken in an effort to spice up gross sales of the DDA’s unsold stock of flats, following losses of over ₹18,000 crore within the earlier monetary yr.
The advertising and marketing company has been tasked with dealing with promoting and promotion, whereas the true property advisor will conduct a market evaluation to find out the explanations behind the unsold flats and suggest methods to extend gross sales. Solutions might embody lowering costs or enhancing facilities to draw potential consumers.
The DDA has employed these businesses for a interval of three months, marking the primary time it has taken such steps to enhance gross sales. The unsold stock consists of roughly 40,000 flats, primarily positioned in Narela.
The artistic company employed by the DDA is implementing a complete advertising and marketing strategy that features newspaper adverts, on-line promotions, tv and radio ads, in addition to radio jingles and digital out of doors promoting. The preliminary outcomes have been promising, with 1,600 out of 5,500 flats already being allotted inside a month.
Concurrently, the true property advisor, Anarock consultants, will conduct a market evaluation over the following 45 days to determine the explanations behind the unsold flats and recommend measures to extend gross sales. This evaluation will embody finding out demand and provide patterns, migration developments, and evaluating the DDA’s flats with these in neighboring cities of the Nationwide Capital Area (NCR).
DDA officers are anticipating options from the true property advisor relating to potential worth reductions or the addition of neighborhood facilities inside the gated societies to additional increase flat gross sales.
The DDA has introduced roughly 54 housing schemes because it initiated the development of housing items in 1967. Nonetheless, lately, there was a decline in demand for DDA flats as a result of emergence of personal builders and builders in satellite tv for pc cities surrounding Delhi, equivalent to Gurgaon, Noida, Faridabad, and Ghaziabad. The DDA acknowledges the shifting market dynamics and expresses the necessity to adapt to the altering preferences of consumers with the intention to enhance gross sales.
In accordance with the DDA’s tender doc, the estimated housing demand for Delhi from 2011 to 2041 is 3.45 million dwelling items, assuming a mean family dimension of 4.5 folks.