NEW DELHI: Lieutenant-Governor Taranjit Singh Sandhu’s push to position Delhi as a preferred investment destination has received a strong market endorsement, with Delhi Development Authority’s Mega e-Auction fetching Rs 1,321 crore—nearly three times the reserve price.
In line with the L-G’s vision, the DDA has concluded its e-Auction of land and property assets, witnessing participation from investors, institutions and businesses.
The e-Auction achieved a total highest bid value of Rs 1,321.21 crore against a cumulative reserve price of Rs 480.38 crore, realising nearly three times the reserve value and generating a premium of approximately 175% over the aggregate reserve price.
The e-Auction offered 142 properties and land assets, comprising residential, commercial, industrial and institutional plots, group housing sites, commercial estate built-up shops, multilevel parking facilities, kiosks and other licence-fee-based assets located in various parts of the national capital.
The e-Auction ensured fair competition and efficient price discovery while providing opportunities for a wide range of stakeholders.
The intense competition witnessed for several prime properties reflected the strong demand for strategically located land assets across Delhi. A commercial plot in Karkardooma (21-22 Pocket) attracted 36 bidders and achieved a value more than 10 times its reserve price.
Another institutional plot at Karkardooma (Plot No. 3A) emerged as the most actively bid property in the e-Auction, attracting 20 bidders and recording 3,160 bids during the bidding process.
Asset categories
Competitive bidding was seen across multiple asset categories, coupled with the substantial premium achieved over reserve prices.
