[India Property, Real Estate India] Auction to fix price of CWG flats

[Real India Property]

Delhi Property

The Delhi Development Authority (DDA) has decided to auction 100 flats in the Commonwealth Games Village, out of its share of 722 flats, to ascertain the market value of the flats before putting them up for sale. Sources in the DDA confirmed that this proposal was approved at the Authority’s meeting at Raj Niwas on Tuesday, and it has now been forwarded to the Ministry of Urban Development for approval. 

The Village has two, three, four and five-bedroom flats. 

“The DDA had already decided to sell these flats at the prevalent market rates. However, we were unsure how to fix the market value taking into account the various special amenities on offer at the Village. So, an idea was proposed that we auction 100 such flats in different categories, and use the results of that auction to fix the price,” a senior DDA official said. 

According to project developer Emaar-MGF, the market value of the flats in Rs 18,000 per sq ft.


http://www.indianexpress.com/news/Auction-to-decide-market-rate-of-DDA-s-Games-Village-flats/704278

www.RealIndiaProperty.co.in

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Posted By Real India Property to India Property, Real Estate India at 10/29/2010 11:23:00 AM