Commonwealth Games Village apartments sold at Rs 7.3 crore
A five-bedroom flat in the Commonwealth Games Village was sold at Rs. 7.3 crore to the Delhi State Cooperative Bank.
The Delhi Development Authority opened bids for the 110 flats in the CWG village. Public sector units and banks made the winning bids for as many as 87 apartments. The State Bank of India led the pack with 32 flats, which it plans to use as residences for its senior staff.
In the bid the DDA got 25% more than the base price for all the flats.
The land development agency, which owns more than 700 flats in the residential complex, wanted to gauge the market through the auction.
When the first block of flats was sold by the village developer, Emaar MGF, in 2009, the price per square feet was around Rs 11,000. Now the highest deal was done at a cost of Rs 24000 per sq ft.
DDA based the sales pitch if the flats on quality of construction and location advantage, and it seem to have worked. The price commanded by village flats is far higher than for those in east Delhi’s sought-after areas such as Mayur Vihar, Preet Vihar and or Anand Vihar.
More related stories:
Developers to pay Penalty for Extra Construction on CWG Flats
Source: Hindustan Times
Commonwealth Games Village, Delhi Development Authority, Delhi State Cooperative Bank, Emaar MGF, five-bedroom flat, flat in the Commonwealth Games Village, flats in CWG village, Mayur Vihar, Preet Vihar, State Bank of India
