The Hindu : New Delhi News : DDA hotel plots find few takers

Online edition of India's National Newspaper
Wednesday, Dec 20, 2006
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New Delhi

New Delhi

DDA hotel plots find few takers

Staff Reporter

Only three of six sites put up for auction sold

NEW DELHI: At a time when auctions of hotel sites in the satellite townships of Gurgaon and Noida have been fetching astronomical sums, the Delhi Development Authority has been facing difficulty in selling hotel plots in Delhi and this is reflecting on the growing preference among investors for better planned areas outside the Capital.

On Tuesday, the DDA managed to sell only three of the six hotel sites put up for auction. There were no buyers for the hotel sites in Dwarka Sector 10, Twin District Centre Rohini and Shastri Park District Centre despite the fact that this time the reserved price had been reduced by 15 to 20 per cent. In its four auctions for hotel plots during the year, the DDA has been able to sell only 15 plots.

The three plots that were sold also did not fetch much more that the reserved price. As against the total reserved price of Rs 547.78 crores, the amount realised was Rs 574.05 crores -- only a five per cent increase over the reserved price.

The biggest plot was in Dwarka Sector 14 and it was sold for the highest bid of Rs. 449.91 crores. Measuring 24,355 square metres, it was bought by Brilliant Buildtech . Of the other two plots onewas bought by Parsvnath Developer while the other by Anus Finlease and Construction.

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