Home / Business and Economy / DDA Auctions Properties for Rs 1,321 Crore
DDA Auctions Properties for Rs 1,321 Crore
10 Jun
Summary
- DDA successfully auctioned 142 properties, earning Rs 1,321 crore.
- Bids nearly tripled the initial reserve price, achieving 175% premium.
- Online auction facilitated participation from investors and businesses.
The Delhi Development Authority (DDA) has recently concluded a highly successful e-auction, bringing in a revenue of Rs 1,321 crore from the sale of 142 properties. This online event saw enthusiastic participation, with bids soaring to nearly three times the initial cumulative reserve price of Rs 480.38 crore, reflecting a premium of about 175 percent.
The auction offered a diverse range of 142 land and property assets across Delhi. These included residential, commercial, industrial, and institutional plots, as well as license-fee-based assets, catering to a wide array of stakeholders.
Under the guidance of Lieutenant Governor G.T. Singh Sandhu, the DDA is focusing on developing Delhi as a global city. This initiative emphasizes sustainable investment, world-class housing, and the re-establishment of Delhi as a financial hub, with the e-auction serving as a key step in this vision. The auction's digital platform ensured transparency and fair competition.
