DDA to e auction 152 premium flats in CWG Village next month
The land owning agency will conduct an electronic auction and has fixed Rs 7 crore as the reserve price for the 3BHK units
May 15, 2015
Source : The Economic Times (ETRealty.com)

 

NEW DELHI: Delhi Development Authority (DDA) is all set to auction 152 premium apartments at Commonwealth Games Village in June. The land owning agency will conduct an electronic auction and has fixed Rs 7 crore as the reserve price for the 3BHK units. The authority is likely to earn over Rs 1,000 crore from this sale.
 
The auction has been pending for a long time as Delhi government had requested 60 flats for its official housing pool in 2012. Due to this DDA withheld the auction, but Delhi government hasn't given a response till now. "We had earlier written 2-3 letters to the newly-elected government. Now, we are going to send a letter again to confirm whether they still want the units. If no response is received, then we will auction them," said Balvinder Kumar, vice-chairman, DDA.
 
Officials say the government will have to pay the money for the flats upfront. Sources said the auction process is likely to be completed by June end.
 
Of the 711 flats with DDA, 378 were taken by the central government for its official housing pool, 74 were sold in June 2012 and 45 were converted as official quarters for DDA employees. There are 62 flats which are under litigation due to dispute between DDA and the developer. "We are left with 152 flats, all 3BHK units with plinth area of 3,000 square feet," said a DDA official.
 
This is for the first time that DDA will be conducting e-auction and is likely to advertise it next week. Officials said adequate time will be given to the interested bidder to register for the e-auction. The cost to DDA for CWG flats in 2009 was around Rs 11,000 per square feet. The authority sold it for Rs 22,000 per sq feet in 2012. "Though the reserve price is Rs 7 crore, looking at the demand for these houses the final price will be much more," said an official.

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