New Delhi: The Delhi Development Authority (DDA) is gearing up to put its 60 plots, in 14 prime locations under the hammer after a gap of one year. The auctions will be at Pitampura, Vikas Puri, East of Kailash etc on 20th, 21st, and 22^nd of November. The process of sale will begin from October 28.

All the 60 plots going under the hammer are having a base price of above Rs 1 cr. The body has chosen to start the auction with a high base price, which will surge the property price in the respective areas.

In the current scenario, the real estate market is going through a rough phase and the investors are not showing much interest but the Govt body has chosen to pitch its properties aggressively for the auction.

Recently, at Janakpuri, the property rates usually range from Rs 45,000-50,000 per sq ft but DDA had auctioned the plot at Rs 42,000 against the new housing unit developer built property.

The authority is now planning to take a bigger role in the realty market at will auction 70 sq mt plot in Yamuna Nagar for Rs 1.47 cr and 357 sq mt ploy in Janakpuri which will start from Rs 15.74 cr.

Some properties which include a 270sq mt plot in Jasola has a base price of 13 cr, a 245 sq mt plot at Pritampura starting at Rs 10cr, and a 355sq mt plot at Dwarka will open at Rs 11 cr.

The auction of property at DDA was regular thing till a year ago, but due to frequent changes in the top management the auctions were put on hold. There are more residential properties marked for auction and will be put under hammer in coming months.