DDA finds only six takers for 152 premium apartments at Commonwealth Games Village

NEW DELHI: : The Delhi Development Authority (DDA) has received bids for just six flats out of the 152 premium apartments at Commonwealth Games Village. This is the worst response to any of DDA's housing scheme in decades. Sources said the land owning agency will have to revise its plan for these apartments which sold for Rs 22,000 per square feet in 2012 — double its initial cost. 

Recently, TOI had reported that there are no takers for these flats as less than 15% people had register .. 

for online auction for which Tuesday was the last day. "The next auction was planned for four days starting July 13, but they won't be held on July 15 and 16 as we didn't receive any electronic registration for it. People had registered to bid for nine flats," said an official. 

Officials said the auction amount for the six flats is not known so far as a private agency is managing it. "It will be more than Rs 7 crore, which was the reserve price. We will get to know about it by tomorrow .. " said an official. Officials attribute the poor response to the high reserve price — Rs 7 crore per flat. Sources said the authority may have to revise it. 

DDA had advertised for these apartments in May. Though June 22 was the last date to register for the bidding process, the authority had to extend it due to poor response. All flats on auction are 3BHK units. The authority was hoping to generate over Rs 1,000 crore from the sale of these flats. This is for the first time DDA isconducting e-auction for these flats. 

Sources said the poor response has come as a major disappointment to DDA, which recently announced its first high-end housing project in Dwarka. It also plans three major Transit Oriented Development projects in east Delhi and Dwarka. All the projects have housing as the main component. 

The auction of these flats was pending for a long time as Delhi government had requested for 60 flats for its official housing pool in 2012. But as there was no response from the government, DDA decided to auction them. Of the 711 flats with DDA, 378 were taken by the central government, 74 were disposed 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.