Ghaziabad: Ghaziabad Development Authority (GDA) in the financial year 2020-21 managed to sell 1,585 properties worth RS 541 Crore – which is the highest in four years.
GDA property sales since 2017 have had a negative impact because of the decline in the real estate sector and all efforts to revive the situation was stopped by pandemic.
While the pandemic is still not over, data shows that buyer sentiment has taken, producing higher property sales.
“At the beginning of 2020-21, we have 6,332 properties in our inventory, which includes EWS, LIG, MIG, HIG, Housing, commercial and industrial plots.
At the end of the financial year, we managed to sell more than 1,500 properties,” said an official GDA , “We still have 4,747 unsolicited properties worth RS 3,093 crore.
But, this is the number of highest nature that we have sold in four years.
On the one hand, it has given us hope that sales take,” the official added.
In the financial year of 2019-20, of a total of 5,717 properties, GDA managed to sell 1,232 properties worth RS 229 Crore.
In 2018-19, the authority was managed to collect Rs 95 Crore from the 522 property managed to sell.
The condition of GDA in the 2017-18 financial year is worse because it can only sell 165 properties worth only Rs 83 Crore.
“For a long time, the deliberates occur on how to ensure property sales, which have an impact on their income.
To lure consumers, we must release the style of ‘Babu’ function.
We become more responsive and proactive,” the official said.
“We also announced concessions.
We give option buyers to deposit 10% of the number of properties during the auction and 25% after the document is needed and the rest in installments.
We also begin to hold a regular property auction, which is now done once every week,” said That official.
Also, the duration to pay EMI is extended for seven years and more.
“This has a positive impact because buyers show new interest in our property,” added the official.
“We can only moneteize a small portion of our property as 4,747 of them, worth more than RS 3,000 Crore, lying not sold.
We hope that with more concessions and proactive approaches, we will be able to sell more our properties,” said the official ,