Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Coming up: DDA’s 1,240 HIG flats in Dwarka

Jan 28 2013, 10:27 IST
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SummaryThree-bedroom flats with parking space in Rs 401-crore project.

The Delhi Development Authority (DDA) plans to construct 1,240 high income group (HIG) flats in Dwarka Sector-19. Tenders for the project are expected to be received by February and work will begin by March, officials said.

“These flats will have better finishing than any HIG housing project taken up by us so far. They will look like other builders’ flats in the city. These flats will have three bedrooms, a drawing room, a dining area and attached quarters for domestic help. These flats will have glazed finishing with granite flooring. Car parking will also be part of the housing project,” a DDA official said.

A budget of Rs 401 crore has been sanctioned for construction of these apartment complexes. “No objection certificate has been obtained from Airports Authority of India for the projects as they will be built in the vicinity of airport. This will be a multi-storey housing project,’’ a DDA official said.

“The flats will have service balconies and residents of the top floor will have access to the terrace. There will be a proper walking area inside the housing complex. A housing project of such a large scale has not been undertaken by DDA before,” the official said.

Several other multi-storey flats are being developed in Dwarka. Most of these are HIG flats and might be included in future housing schemes. “As many as 352 flats will come up in Sector 19, Pocket-III. They will be eight- and ten-storey buildings. Work is likely to start on this project soon. Also, 346 multi-storey two-bedroom flats will be constructed in Sector 16-B, Pocket-II. The tenders process to appoint a consultant for this project has begun. The area of the plot is 1.8 hectares and surface parking will also be developed here,” a DDA official said.

Sources said DDA will also undertake mixed land use development in Dwarka. “Housing for the economically weaker sections and low-income groups will be developed with commercial spaces and markets,” a source said.

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