NEW DELHI: A 299 square metre plot at Dwarka here was auctioned by the Delhi Development Authority for a whopping Rs. 5.26 crores on the third day of plot auctions by the Authority on Wednesday. Over the three days, the DDA auctioned a total of 61 plots for a sum of over Rs. 188 crores, which was much more than the reserved price of nearly Rs. 70 crores.

A DDA spokesperson said the auction of plots on Wednesday again yielded much more than the reserved price. For the 24 plots that were auctioned during the day, the reserved price was 12.29 crores. However, these plots situated in Shivaji Enclave, Paschim Vihar, Dwarka and Vikaspuri evoked a great response from serious buyers who thronged the auction hall and took the bids really high.

While the highlight of Day One of the auctions was the Rs 4.98 crore bid for a 275 square metre corner plot in Green Park, on the second day it was the sale of a 270 square metre plot in Jasola for Rs. 4.80 crores.

The auctions have demonstrated the firming up of land and built-up property prices all over the Capital. Moreover, they have also illustrated the growing interest of buyers in new and upcoming areas such as Jasola because such areas also witnessing a lot of commercial development in the form of office complexes and malls. What has added value to Jasola in particular is the presence of a premier hospital close by along with a sports complex and national highway.

While the sale of plots has primarily attracted the upper end buyers, the DDA's new housing scheme under which 3,500 flats would be allotted has also evinced keen interest from the higher and middle income group people. In the first two days itself, DDA has sold over 50,000 forms and at this rate it appears it would have to go for a reprint of the brochures (which contain the form) and are priced at Rs. 150 within the next few days since only 2 lakh forms have been printed in the first lot.

Under the scheme DDA is offering ready-to-move-in flats in colonies spread across Delhi. While three bedroom flats, which are priced between Rs. 30.8 lakhs and Rs. 55.8 lakhs are located in Sarita Vihar Dwarka and Motia Khan, the authority is offering two bedroom flats which cost between Rs. 12.7 lakhs and Rs. 34.8 lakhs in Sarita Vihar, Dwarka, Shalimar Bagh, Rohini, Madipur, Kalyan Vihar, East of Lone Road, Jahangirpuri, Sarai Khalil and Narela.

The third category of flats are expandable ones which would cost between Rs. 13.2 lakhs and Rs. 21.3 lakhs; these are being made available in Rohini, Bindapur, Nasirpur and Narela.

This time, according to the DDA, only one member of each family would be allowed to participate in the scheme. The successful applicants would also have to give an undertaking that they do not own other residential properties in Delhi. And in case any untruth is revealed, all the money deposited till that stage would be forfeited.

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