NEW DELHI: The reforms implemented by Lt Governor V.K. Saxena have significantly increased the revenue of the Delhi Development Authority (DDA). The recent e-auction of plots has yielded bids that exceed the reserve price by more than double, according to a statement from Raj Niwas on Tuesday.
The DDA received a total of ₹1,494.67 crore in bids against a reserve price of ₹629.19 crore for 81 plots encompassing residential, commercial, industrial, institutional, and group housing categories, auctioned from November 21 to 27.
The industrial sector played a pivotal role, with 41 plots attracting the highest bids of ₹272.39 crore, which is 413% higher than the reserve price of ₹53.08 crore. Ten institutional plots, with a reserve price of ₹224.80 crore, received bids that totaled ₹307.71 crore.
Seventeen residential plots brought in ₹166.06 crore, reflecting a 219% increase over the reserve price of ₹52.05 crore. In the commercial sector, ten plots with a reserve price of ₹44.32 crore achieved bids amounting to ₹106.02 crore, a 139% increase.
In Dwarka, competition for group housing plots intensified, with two plots in Sector 27, having a combined reserve price of ₹254.94 crore, bringing in ₹642.49 crore.
Officials noted that the strong demand is a result of reforms introduced by the LG and DDA, including a reduction in the reserve price multiplication factor to foster wider participation. For commercial plots, the factor was lowered from double the circle rate to 1.5, while for institutional plots, it decreased from 0.75 to 0.6.
The DDA also mentioned that improved infrastructure, especially in areas like Dwarka—with developments like the Urban Extension Road and Bharat Vandana Park—has spurred aggressive bidding in the group housing sector.
