The Indian Express                 14.03.2013

Lukewarm response to DDA’s auction of residential plots

Delhi Development Authority's (DDA) auction of residential plots on freehold basis held on Wednesday received a lukewarm response.

The agency had announced auction of 38 plots and put up 11 plots to go under the hammer on Day One. Of these, the land agency received a bid for only four plots.

The plots, which were put up for auction are located in Rohini, Dwarka, Pitampura, Paschim Vihar, Vivek Vihar Phase-II. The auction will conclude on Friday. Four corner plots in Rohini were also part of this auction.

"We are hoping that the response will pick up in the next two days,'' a DDA official said.

"The largest plots are of 200 sqm and are mainly located in Rohini, Sector-18, pocket-H-3. The reserve price of the corner plots in this area is Rs 7.48 crore, which makes these plots the most expensive. Reserve price for corner plots or plots located on a 24 metre road and above is 10 per cent higher in each case, than the reserve price of normal plots,'' the official said.

According to sources, DDA has been facing difficulty in disposing of its residential and commercial plots this financial year.

In the revised budget estimates for 2012-13, only a sum of Rs 715.06 crore is expected to be generated from residential, industrial, institutional and commercial land.