DDA earns Rs 1,321cr in e-auction of 142 plots

Vibha SharmaNew Delhi: Delhi Development Authority (DDA) has earned Rs 1,321.2 crore by e-auctioning 142 properties at prime locations recently.Of these, 24 freehold plots were for residential projects, 21 for industrial use, institutional land (10 plots) and one parcel of land for a group housing project. For built-up shops, 57 plots were auctioned. Plots were also auctioned for multi-level parking lots and kiosks. Sixteen plots were auctioned for commercial use, and one for a food court in Dwarka.Sharing details with lieutenant governor TS Sandhu in a review meeting on Wednesday, DDA said that the bidding process helped generate over 175% revenue above the aggregate reserve price of Rs 480.4 crore.The outcome is a reflection of the growing demand for strategically located land and the increasing confidence of investors in Delhi’s real estate market, officials said.One of the highly sought-after plots was a commercial land parcel in Karkardooma's Pocket 21-22. It attracted 36 bidders and reached a value of more than ten times its reserve price.Another institutional plot in Karkardooma (Plot No. 3A) was the most-bid-for property in the auction. It attracted 20 bidders, and 3,160 bids were made during the auctioning process.“The robust bidding for the Karkardooma properties serves as a market endorsement of the area’s development potential, with investors displaying significant confidence in its long-term growth prospects and strategic connectivity,” an official said.At the meeting, the LG also approved the transfer of land to DMRC for installing a lift at the Rohini West metro station, keeping in mind the ordeal patients and their attendants face while visiting Dr Baba Saheb Ambedkar Hospital in Rohini.In the meeting, the LG gave his approval for the allotment of gram sabha land for a 66 KV solar pooling substation in south-west Delhi’s Issapur village. The decision will accelerate Delhi’s clean energy infrastructure.“The land has been allotted to the power department, GNCTD, on a lease for a fixed tenure of 99 years,” the authority said.