DDA auctions sites at Shahdara, Kondli

DDA auctions sites at Shahdara, Kondli
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First Published: Fri, Mar 23 2007. 12 49 AM IST
Updated: Fri, Mar 23 2007. 12 49 AM IST
New Delhi: The Delhi Development Authority (DDA) on 22 March auctioned two hotel sites at Shahdara and Kondli for a combined Rs52.66 crore against a reserve price of Rs38.59 crore. The plots, measuring 3,279sq. m and 1,800sq. m, were among the seven auctioned by DDA. Last year, the agency sold only 11 out of 16 plots that were put on the block.
The auction comes as the government tries to release more land for hotels to overcome a projected shortfall of 30,000 rooms in the National Capital Region alone, in time for the 2010 Commonwealth Games. Shortage of hotel rooms has been a perennial problem in India, with the ministry of tourism forecasting a shortage of 150,000 rooms nationwide.
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First Published: Fri, Mar 23 2007. 12 49 AM IST