DDA strives hard to find a buyer

Figure 38 has all of a sudden become a target that seems to be unattainable for Delhi Development Authority (DDA). The Authority out of 38 plots set aside for the purpose of sale has been able to attract buyers only for 13 plots.

These plots are to be used for the development of five stars and other star hotels as a part of preparation for the happening of mega event of Commonwealth Games in Delhi. Construction of these hotels is likely to make up for around 5,000 rooms.

DDA finds it all the more difficult to sell out its plots as the major hoteliers have already decided on the plots where they plan to develop hotels to meet the accommodation requirement at the time of Commonwealth Games. The major UK and US based hoteliers like M/s Crimson Hotels Limited, Hampshire Hotels and Resorts LLC have already queued up in various sectors of Noida.

The reason that is expected to be responsible for the poor response to DDA’s offer is the location of most of these plots. These plots are situated at areas like Dwarka, Rohini and other secondary locations whereas South Delhi is known to be the prime choice of hoteliers.
Albeit the DDA is working on strategies to attract the attention of potential buyers the present scenario does not favour the authority at all. It had received an excellent response in 2006 when the authority put 16 sites for auction and 11 were sold but this time achieving such a remarkable result seems next to impossible.




Contributed By : Vivek Hundal