Delhi Development Authority has sold CWG apartments for Rs 400 crore
87 residential apartments in Commonwealth Games Village were sold at a total price of Rs 400 crore. At present DDA have 110 flats in CWG village.
The highest bid was Rs 7.27 crore for an apartment. It is considered as the most expensive apartment in the eastern part of the city.
The highest bid came from the Delhi State Cooperative Bank. State Bank of India and other public sector undertakings participated in the bid.
DDA had acquired the apartments from Emaar MGF, a private builder, at Rs 11,000 per sq ft. It had kept a reserve price of around Rs 17,000 per sq ft for the flats. But in the auction DDA has earned 40 percent more on the cost of the properties in NCR.
As there is no imminent supply of such luxury or high-end apartments in the region, the sale became more important among the buyers.According to the bid result, DDA should be able to fetch a good price even in subsequent auctions for the remaining flats.
The high-end apartments in CWG were sold for between Rs 2 crore and Rs 6 crore by the developer.
More related stories:
Developers to pay Penalty for Extra Construction on CWG Flats
Source: Times of India
apartments in CWG, Apartments in CWG village, Commonwealth Games Village, CWG Village, Emaar MG, properties in NCR, Residential apartments, State Bank of India
