DDA auctions four hotel sites for Rs.465 crore
New Delhi News
Moving ahead in its pursuit of disposing of 22 major hotel sites this year, the Delhi Development Authority on Monday sold off four sites for a total consideration of Rs.465.4 crores. However, while three of its sites failed to attract any buyers, DDA itself withdrew two sites at Dwarka as it is reworking the plans for them.
The four sites that were auctioned had a total reserve value of Rs.348.61 crores and so the amount actually earned was about 30 per cent more. Of these, two plots are at Wazirpur District Centre. Measuring 7,220.40 square metres (reserve price Rs.69.58 crores) and 7,030 sq m (reserve price Rs.65.09 crores), they were bought by Asrani Inns & Resort Pvt. Ltd. for Rs.127 crores and Rs.102.40 crores, respectively. The other two plots measuring 6,031 sq m (reserve price Rs.111.97 crores) and 5,955 sq m (reserve price Rs.111.97 crores) were bought by Erose Resorts and Hotel Pvt. Ltd. Located in Mayur Vihar District Centre, they were sold for Rs.118 crores each.
Initially for the day’s auction DDA had offered hotel sites at Wazirpur District Centre, Shalimar Bagh District Centre, Shastri Park District Centre, Mayur Vihar District Centre, Paschim Vihar District Centre and Dwarka. Out of these it later withdrew the two sites at Dwarka while no one came forward to participate in the bidding for Shalimar Bagh, Shastri Park and Paschim Vihar plots.
Commissioner Land Disposal of DDA R.K. Singh said in case of the three plots for which no one participated in the auction, the sites were probably not attractive enough. “In the case of Paschim Vihar, the plot is located in the over 100 acre District Centre. But since other plots have no yet developed and would take about another five years to do so, the deal was probably not attractive enough.”
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