The Delhi Development Authority, which had managed to sell only three plots out of 10 on offer yesterday, fared even worse today as none of its nine plots found any takers.

The auction, which began at 10.30 am, got over in a couple of hours as none of the prospective buyers evinced any interest. DDA officials had ascribed yesterday’s disappointing sale to the poor location of the plots. But three of the plots being auctioned today happened to be in the upcoming township of Dwarka which is quite close to the airport. This time round the high prices may have put off prospective buyers.
Of the three plots in Dwarka, the one with lowest reserve price was a plot in Sector-10 which had a reserve price of Rs 188.83 crore. The other two plots, where the land use specifications allowed the construction of a general commercial complex including a multiplex, had reserve prices of Rs 564.18 crore and Rs 489 crore respectively.
A senior DDA official said they would analyse the reason for the poor response in the next sub-committee meeting. The DDA has been trying to push the construction of hotels in the city aware that the 2010 Commonwealth Games will bring forth a big influx of visitors. But with the auction barely attracting any buyers, it is clear that the hotel industry does not find it attractive to build hotels at the DDA sites.
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