Com­mon­wealth Games Vil­lage flats soon to be auc­tioned

Accommodation Times - - Feature -

The fa­mous Com­mon­wealth Games Vil­lage which got into con­tro­versy may soon be up for the sale to the public through e-auc­tion. Delhi Devel­op­ment Au­thor­ity has made a pre­sen­ta­tion to the union ur­ban devel­op­ment to push for ur­gent dis­posal of the re­main­ing flats. DDA has 374 ready to move in flats that have been just con­structed and not al­lot­ted.

How many of th­ese would be put up for auc­tion is not yet clear but sale of th­ese flats is now a pri­or­ity for DDA and the min­istry.

In the pre­sen­ta­tion, DDA pro­posed that the auc­tion could ei­ther be held by the ur­ban devel­op­ment min­istry or the au­thor­ity. DDA had sold 74 apart­ments in the first public auc­tion in 2012 and 96 flats were al­lot­ted to cen­tral gov­ern­ment de­part­ments.

Sub­se­quently, the UD min­istry took over the au­thor­ity to dis­pose of the flats. No more flats have been auc­tioned since, though DDA has cho­sen to des­ig­nate 45 of th­ese as the au­thor­ity's staff quar­ters and has given Delhi gov­ern­ment 60 flats.

DDA of­fi­cials are up­set over the in­ac­tiv­ity shown by the min­istry in hold­ing auc­tions of the re­main­ing flats. They feel the sale will not only bring in more rev­enues, the greater in­hab­i­ta­tion in the area will help in bet­ter main­te­nance of the pre­mium CWG vil­lage space.

"It is true that we have re­quested the sec­re­tary (UD min­istry) to give us per­mis­sion to e-auc­tion flats in the vil­lage," said DDA vice- chair­per­son Balvin­der Ku­mar, con­firm­ing the devel­op­ment.

Sources in the min­istry said the is­sue is be­ing de­lib­er­ated upon and a de­ci­sion can be ex­pected soon.

At the 2012 auc­tion, two to five-bed­room flats were of­fered for Rs 3.5crore to 7crore, re­spec­tively. The mar­ket value of the five-bed­room flat right now is said to be around Rs 12crore. DDA had made tremen­dous gains through the auc­tions then by sell­ing the flats it had pur­chased for Rs 11,000 per square feet in 2009 from Emaar and sell­ing it for Rs 22,000 per square feet. The per-square-foot price of de­vel­oped space at the vil­lage is cur­rently es­ti­mated to be Rs 26,000.

In Jan­uary this year, DDA ap­proved al­lot­ment of 60 flats to Delhi gov­ern­ment, pay­ment for has not been re­ceived, DDA of­fi­cials say. In March, DDA de­cided to take over 45 flats and use them as staff quar­ters.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.