People looking to invest in real estate this Navratri have the opportunity to participate in a two-day auction of around 2,500 flats and plots in Ghaziabad. The Ghaziabad Development Authority (GDA) is organising a fair on October 12 and 13, to sell thousands of unbought 1 BHK, 2 BHK and 3 BHK flats in Madhuban Bapudham, Indraprastha, Koyal Enclave and other areas. The prices for 2 BHK flats start from Rs 19.29 lakh and go up to Rs 52.28 lakh, whereas the 3 BHK units range between Rs 60 lakh and Rs 69 lakh.
There are thousands of unbought flats and plots in several categories with the GDA. Some of the buyers, who bought from these 2500 flats have reportedly taken their payments back due to several reasons. The GDA is hoping to sell out the housing units during the fair in Navratri and has even tied up with banks to provide home loans to buyers.
According to the directions of the GDA Vice Chairman, Krishna Karunesh, the fair will be organised at Hindi Bhawan in Lohia Nagar. GDA Secretary and Property In-charge, C.P. Tripathi said they had a meeting with the management of different banks, and they have agreed to set up a camp during the fair to provide loan assistance to the buyers.
Real estate worth Rs 806 crore have been included in the two-day fair. Most of the flats fall under the Madhuban Bapu area where buyers can choose from the low-income group (LIG), middle-income group (MIG) and multistorey building flats. Indraprastha and Koyal Enclave have 1 BHK and 2 BHK flats, whereas there are three-storey and four-storey houses in Indirapuram.
GDA is looking to make full use of the Navratri period to clean out its stock of housing units. The Covid-19 pandemic has also hit the real estate sector greatly.
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