DDA to e auction Commonwealth Games village flats in 40 days
Dec 06, 2014
Source : The Economic Times

 

NEW DELHI: Those looking for premium apartment units in Delhi may need to watch DDA's website because 214 flats from the Commonwealth Games village would be put up on sale here. While some final adjustments and last-minute consultations are on, officials in the Authority are now looking to carry out an e-auction of the flats within the next 40 days.

Such is the allure of the flats at present that sources say even members of Rajya Sabha are looking to get them as official residences. Delhi government and the income tax department have also asked the urban development minister to reserve some of the flats for its officials.

DDA has been looking at auctioning the remaining flats in CWG village for a while. The proposal, sent to the ministry of urban development, has been accepted only now, sources in the Authority said.

The last time DDA held auction of the flats was in 2012. "There were two motives for holding the auction then. One was to test the market and see if we can attract a good response, which we did. The second was to get rid of part of our inventory," said a senior official of the Authority. The auction being planned now is being held for the same reasons besides an additional one in that this time around DDA wants to get the best prices, he said.

In the 2012 auction, DDA sold 74 flats to the public and 156 to various central government departments and Delhi government, besides reserving 45 flats for its own officials. After the auction, the UD ministry reserved the rights of selling the CWG flats.

The per-square-foot cost to DDA for CWG flats in 2009 was around Rs 11,000, and the Authority sold it for Rs 22,000 in 2012. Going by the trend of the last three sales at the village, the current selling price per square foot is between Rs 18,000 and Rs 20,000. The last sale at CWG village happened three weeks ago when a five-bedroom flat was sold at Rs 5.3 crore.

CWG flats, once put to auction, would be one of the most sought-after properties in the capital. Owing to their location, security and exclusiveness, there are fewer properties that would compete with CWG flats at the same price.

Latest Realty News

Hooda aide, 7 others booked for land fraud
Dec 06, 2014
AMBALA: Eight persons, including a former deputy principal secretary to former Haryana CM Bhupinder Singh Hooda, have been booked for allegedly getting the allotment of multiple plots sold by HUDA
Land sharks play fraud on court, judge orders a probe
Dec 06, 2014
CHENNAI: The Madras high court has asked the Tiruvannamalai police to register a case, in connection with forged property documents filed in a subordinate court by keeping the original land owner in the dark
Collectors to take action on illegal constructions in rural areas
Dec 06, 2014
MUMBAI: The district collector will be responsible for action against illegal constructions in rural areas
After mobiles, realty project launched online
Dec 06, 2014
NEW DELHI: After mobile phones and books, residential real estate project is also being launched exclusively online by realty player SalarpuriaSattva Group (SSG)
New flats of DDA go on 'sale' through online classifieds
Dec 06, 2014
NEW DELHI: Flats offered in DDA's latest housing scheme are 'available' once again, now through online classifieds
All realty projects must display grading for earthquake resistance: SC to centre
Dec 06, 2014
NEW DELHI: The Supreme Court has directed the Centre to ensure that all real estate projects launched in the country prominently display the earthquake-resistant category in which they fall
HC pulls up DDA over encroachments
Dec 06, 2014
NEW DELHI: DDA has drawn the high court's ire for ignoring encroachments on public land initially and carrying out demolitions once slum clusters come up there
Include Pune in smart cities' list: PMC
Dec 05, 2014
PUNE: The Pune Municipal Corporation (PMC) has urged the Union government to include Pune in the list of 100 smart cities
Realtors want road width norm eased
Dec 05, 2014
PATNA: Realtors in Bihar have expressed reservation about certain provisions in the newly framed building bylaws such as, availability of 40-feet wide road in the city for the construction of apartments of 24 metres height
Second-hand homes in demand
Dec 05, 2014
HYDERABAD: The sluggish movement of the real estate market notwithstanding, the sale of 'second hand homes' in the city has seen an impressive growth over the past few months

Latest Realty News Of State

Realty Talk's