Reforms help DDA to garner nearly Rs 1,500 cr in plot e-auction: Delhi Raj Niwas

Reforms initiated by Lt Governor V K Saxena have led to a major boost in the Delhi Development Authority's revenues, with its latest round of e-auction of plots fetching over twice the reserve price, Raj Niwas said on Tuesday.

According to an official statement, the DDA received bids worth Rs 1,494.67 crore against the reserve price of Rs 629.19 crore for 81 plots across residential, commercial, industrial, institutional and group housing categories auctioned between November 21 and 27.

The industrial category emerged as a major driver, with 41 plots attracting Rs 272.39 crore as the highest bids — 413 per cent above the reserve price of Rs 53.08 crore. Ten institutional plots with a reserve price of Rs 224.80 crore received bids totalling Rs 307.71 crore.

Bidding for 17 residential plots yielded Rs 166.06 crore, 219 per cent higher than the reserve price of Rs 52.05 crore. In the commercial category, 10 plots with a reserve price of Rs 44.32 crore garnered bids worth Rs 106.02 crore — 139 per cent above the reserve price.

Group housing plots in Dwarka saw an intense competition. Two plots in Sector 27, with a combined reserve price of Rs 254.94 crore, fetched Rs 642.49 crore.

Officials attributed the robust response to reforms introduced by the LG and DDA, including lowering the reserve price multiplication factor to encourage broader participation. For commercial plots, the multiplication factor was reduced from twice the circle rate to 1.5, while for institutional plots, it was revised from 0.75 to 0.6.

DDA said improved infrastructure in areas like Dwarka — such as the Urban Extension Road, Bharat Vandana Park and other amenities — also contributed to aggressive bidding in the group housing segment.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)