www.expressindia.com - Weather | Horoscope | Stocks | RSS
expressindia web city
HomeBlogsCricketAstrology TendersClassifieds Reader Comments Hotels
Sign In / Register | Archive
Expressindia » Story

DDA once bitten, not hammer shy

Font Size

Mandakini Gahlot

Posted: Mar 02, 2008 at 0041 hrs IST

New Delhi, March 1 The Delhi Development Authority’s auction of shops came a cropper just four months ago, when it managed to sell just half the 150 shops put under the hammer. But the disappointment notwithstanding, the agency is rather upbeat about its next auction — due to be held this month.

Up for sale this time around are 170 freehold, built-up shops located in what DDA officials call “prime areas”.

“We are expecting a good response from the auctions primarily because the shops up for sale are in areas not included in the last list,” a senior official from DDA’s land disposal department said. Among the areas where the shops are located are “Sheikh Sarai and Punjabi Bagh”.

While the shops fall in various zones across the city, the DDA is clear that the most viable areas up for sale are likely to be south Delhi and Dwarka. Reason: “due to the lack of commercial land available in south Delhi and the surge of growth in Dwarka”, a DDA official explained.

Another factor that the development agency is counting on to raise the value of shops is the effect of the sealing drive. As more and more people make a conscious move towards commercial space, officials expect the auction to attract considerable interest. The shops would fetch a good price in south and west Delhi, where commercial activities were conducted out of residential spaces before the sealing drive, the official said. “That is because people now want to conduct business out of exclusively commercial spaces to avoid any problem in future.

Though residential properties and commercial spaces are becoming scarce in the heart of the Capital, officials show DDA’s past record as a reason for their confidence. Over the last year and a half, officials said, the agency has sold approximately 1,200 shops and commercial plots. A few shops that did not find any buyers in earlier auctions are also likely to find takers this time around, largely due to the viability of commercial spaces, they said.

“A few shops did not sell in our last auction perhaps because people did not like the location, apart from other factors,” a senior official of the DDA’s land disposal department said. “But we are certain that they would attract greater attention this time.”

The shops up for sale vary in size and are priced at a range varying between Rs 2.5 lakh and over Rs 2 crore. “The rates are decided by DDA’s price fixation committee on the basis of the last auction,” the official said.

Discuss this story on expressindia forums
Post Comments
Name* Email ID*
Subject* Country*
Message*
Characters remaining
 
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
I agree to the terms of use.

Latest News

Business

Showbiz

Sports

Naxals kill 13 policemen, loot weapons

196 and counting... Punjab candidates line up at Dera for ‘blessings’ ahead of vote...

Now Mamata wants national holidays on Netaji, Tagore birth anniversaries

Anna's movement lacks ideological tethering: Aruna Roy

No knowledge of threat to Rushdie's life: Maharashtra police

Why this Af-Pak battle has all of Sharjah on the edge

Is Modi fasting to atone for 2002 riots? Cong

More
© 2011 The Indian Express Limited. All rights reserved
Advertise With Us | Privacy Policy | Feedback | Express Group | Site Map