DDA Reports 100% Revenue Growth, Surplus Reaches Rs 1,299 Crore For 2024-25: Raj Niwas

Delhi Lieutenant Governor VK Saxena had in July 2022 flagged the DDA's finances being in "red" and asserted to make it a profit earning agency, the LG office said in a post on X

The lieutenant governor is chairman of the DDA that was formed in 1957 under the provisions of the Delhi Development Act "to promote and secure the development of Delhi"

Source : PTI

Registering a financial turnaround, the Delhi Development Authority (DDA) has doubled its revenue generation with a growth of 89 per cent in the last three years, the Raj Niwas said on Tuesday. Delhi Lieutenant Governor VK Saxena had in July 2022 flagged the DDA's finances being in "red" and asserted to make it a profit earning agency, the LG office said in a post on X.

"From perennially being a revenue-deficit entity to becoming revenue-surplus in last two consecutive financial years, it has been a story being rewritten by the Delhi Development Authority," it said.

The DDA through a "rational and liberal approach" in terms of housing policy reforms, innovative marketing strategies, enhanced customer experience and digital transformation, managed to record a 215 per cent rise in sale of its unsold inventory during (2022-23 to 2024-25) as compared to preceding three years (2019-20 to 2021-22), the post read.

"It has contributed significantly to enhanced revenue generation of Rs 6,759 crore for the DDA during this period (2022-23 to 2024-25) as compared to just Rs 3,579 crore in 2019-20 to 2021-22), thereby registering a growth of 89 per cent," it said.

The Central government owned DDA which remained "persistently revenue deficit" since 2013-14, succeeded in reversing the deficit trend, achieving a Rs 511 crore surplus in FY 2023-24, which further increased to Rs 1,299 crore in FY 2024-25 (up to January 2025), the Raj Niwas said.

By achieving financial self-sustainability and improving operational efficiency, the DDA remains committed to ensuring enhanced services to the people of Delhi and fostering a city that is inclusive, sustainable and thriving, it added.

The lieutenant governor is chairman of the DDA that was formed in 1957 under the provisions of the Delhi Development Act "to promote and secure the development of Delhi".

The DDA is responsible for planning, development and construction of housing projects, commercial lands, land management, among others.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)