Delhi Development Authority is really struggling to sell vacant flats in Commonwealth Games village. Advertised in May 2015, the authority received only 9 bids in more than 30 days for 152 flats. The authority invited bids through e-auctions for selling 152 flats in CWG village between 25 May and 22 June, later extended to 14 July.
According to a report published in TOI, this is the worst response ever received by the authority for any of its housing scheme. The authority received just 15% online registrations for the bids, i.e. for just 9 flats. Initially the auctions were scheduled to be announced on 13, 14, 15, and 16 July, but since the response is very poor, no auctions will held on 15 and 16 July.
According to the officials, the cost of 6 sold flats was not known because a third party was managing the auctions but expect it to be over the reserve price, i.e. Rs 7 Crore each. After such a poor response, the authority may revise the price to bring in more people bid for the flats.
This is the first time DDA is conducting e-auctions for these flats. The authority expected to generate a revenue of over 1000 crores by selling these 3BHK flats.