The 110 flats in the Commonwealth Games Village,New Delhi received bids for 87 of them,the Delhi Development Authority (DDA) said. These flats are located in towers 1,9 and 14 of the development. The response to the bid documents was muted,with only 218 filled and sealed bids finally received in contrast to the over 1,200 bid documents sold by DDA. Over 80 per cent of the flats were bought by public sector undertakings (PSU) with State Bank of India being the highest bidder for 32 of the flats. Only a handful of individual bidders procured a flat. According to sources in DDA,the remaining flats in the Village with around 600 still remaining to be sold would be given to government bodies and not to individuals. DDA claimed that the bids that had been received showed an overall increase of 25 per cent from the reserve price quoted. The highest bid received is R7,31,87,969,which works out to be R2,59,716 a square metre against a reserve price of R5,21,87,951 an increase of 40.23 per cent. But the highest rate was offered for another flat for which a bid of R7,27,06,472, said a DDA official. Both are five-bedroom flats and were bought by Delhi State Cooperative Bank. The two bedroom flats went for over R3 crore with the maximum bids being received for Tower-1 because of its location facing Akshardham Temple with lowest bids being received for Tower-9. No bids were received for several flats in the tower. Emaar sources claimed that they had sold their flats between R2 crore and a little over R4 crore which means that they prices of these flats have increased by over 50 per cent. For instance for a five bedroom flat the jump has been 75 per cent.
