DDA auction of 142 properties generates Rs 1,300 crore revenue

New Delhi: The Delhi Development Authority (DDA) has auctioned 142 properties amassing Rs 1,321 crore in revenue, officials said on Wednesday.

Under its mega e-auction of land and property assets, the DDA witnessed participation from investors, institutions, businesses and achieved strong value realisation through competitive bidding.

"The e-auction achieved a total highest bid value of Rs 1,321.21 crores against a cumulative reserve price of Rs 480.38 crores, realising nearly three times the reserve value and generating a premium of approximately 175 per cent over the aggregate reserve price," a statement said.


Ever since taking over, Lieutenant Governor G Taranjit Singh Sandhu has been focussing on developing the capital as a global city that evolves on the principles of clean sustainable investment, world-class housing and opportunities for re-establishment of Delhi as a financial hub, the statement said.

According to DDA, the e-auction offered 142 properties and land assets across Delhi, including residential, commercial, industrial and institutional plots and others on licence fee-based assets located in various parts of the city.

"Conducted through DDA's transparent and technology-enabled digital platform, the e-auction ensured fair competition and efficient price discovery while providing opportunities for a wide range of stakeholders," the statement said.