Millennium Post

SBI gets lion's share of CWG flats

The highest bid received by Delhi Development Authority (DDA) is Rs 7.31 crore for a five BHK flat situated in Commonwealth Games village on the banks of Yamuna. On Monday, DDA had put up 110 flats for bidding of which 87 flats were sold.

Delhi State Cooperative Bank Ltd (DSCBL) had quoted Rs 7,31,87,969 for flat number 0803 in Tower-14, situated on the river bank side. The second bidder for the flat was also a public sector company, Oil India Ltd. DDA has fixed the reserve price of the flat at around of Rs 5.21 crore. 'We received Rs 2,59,716 per sq m against a reserve price of Rs 1,85, 195 sq m, which is 40.23 per cent above the reserve price,' said Neemo Dhar, spokesperson of DDA.

The second most expensive flat also went to DSCBL, which quoted around Rs 7.27 crore for flat no 0903 in the same tower. The tenders were preferred on Monday morning from 10 am to 2 pm and the same were opened at 2.30 pm in the presence of tenderers. A total of 218 tenders were received for 110 flats located in Tower No.1, 9, 14 of CWG village. Bids for a total of 87 flats have been received.

Around two dozen flats had no takers as 'no bid' was received for them. A maximum 130 bids were received for Tower-01 for 42 flats and 55 renderers applied for 36 flats in Tower-14 while minimum 33 bidders have submitted their applications for 32 flats in Tower-09. The scheme was announced on 24 April with sale of brochures containing details of procedures, reserve price and eligibility, costing Rs 1,050. Around 1,200 forms were sold.

In the individual category, Namrata Banerjee quoted the highest value of Rs 6.30 crore for a flat in Tower-09 and won the bid against Devendra Gulati. The second highest bidder in individual category is Prem Veer Singh who quoted Rs 5.38 crore and won the bid for his dream home against State Bank of India.

The maximum nine bids were received for flat-405 in Tower-1. Three other flats in the same tower also received six bids, each. However, the main competition for the flats was among the PSUs and government departments.

The main contenders for the flats were public sector banks, oil companies, insurance companies, institutions, and universities. A few NRI/ PIOs have also applied for the auction. Out of total 87 flats auctioned on Monday, only 10 were won by individuals.

'The flats are badly designed. They are not worth the price DDA has quoted,' said P K Sah, a resident of Himvarsha Apartment in Patparganj, one of the individual bidders present.

State Bank of India got the lion's share in the bidding as it won 32 flats out of 36 it had applied for in the bidding. All these flats are situated in Tower-1. Thus out of 42 flats in Tower-1, 32 would be owned by SBI.

Similarily, Hindustan Petroleum Corporation Ltd (HPCL), won 12 out of total 32 flats in Tower-9. A total of 14 flats could not be auctioned due to 'no bidding and deficiencies'.

Oil India Ltd got four flats out of eight flats it had applied for. The other successful PSUs in this bidding are National Aluminium Corporation Ltd, Small Industries Development Bank of India Ltd, Punjab and Sindh Bank, Agricultural Insurance Corporation Ltd and National Insurance Company Ltd.

The three bids of ONGC were rejected as it had not deposited 5 per cent Earnest Money mandatory at the time of bidding. It had to be deposited along with the application form. The PSU had applied for three flats in Tower-14. Application of some deemed universities, institutes and companied were also rejected as they were not eligible.

State Bank of Travancore, SIDBI, IBDI, OICL, Marine Products Development Authority, Ministry of Commerce and Industry and Gujarat Power Corporation Ltd could not get any flats.

The minimum bidding amount the DDA received for flats in Commonwealth Games were over Rs 3 crore. The authority had put the reserve value at around Rs 1,850 per sq ft and it received maximum of Rs 24,000 per sq ft.


Ashok Sharma, a representative of Aarti Chowdhury, who had applied for flat no 506 in Tower-1 created a scene during the bidding and alleged that his application was deliberately ignored by the officers. But it was found that his application was mistakenly put in the file of flat no 605. The applicant won the bid for flat no 605, but later his application was rejected and the flat was allotted to SBI. 'It was due to officers' mistake, so they must allot us the flat no 605,' claimed Sharma. The officers managed to convince him otherwise.
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