Draw of lot
A draw of lot allots plots by lottery among everyone who applied and paid the registration amount, instead of by competitive bidding. The price is fixed by the authority in advance, so the cost is known at the time of applying — what is uncertain is whether you are allotted anything. LDA's Anant Nagar Yojana is allotted this way; every other scheme PropIQ currently tracks is an e-auction.
Worth knowing
- In a draw the registration amount, not an EMD, is what is at stake.
- A draw closes on its registration date exactly like an auction — there is no late entry.
Questions people ask
What is Draw of lot in a government plot auction?
A draw of lot allots plots by lottery among everyone who applied and paid the registration amount, instead of by competitive bidding. The price is fixed by the authority in advance, so the cost is known at the time of applying — what is uncertain is whether you are allotted anything. LDA's Anant Nagar Yojana is allotted this way; every other scheme PropIQ currently tracks is an e-auction.
What should a bidder watch for with draw of lot?
In a draw the registration amount, not an EMD, is what is at stake.
Anything else about draw of lot?
A draw closes on its registration date exactly like an auction — there is no late entry.