DDA to auction 10.43-acre plot in Dwarka Sec 22

The Delhi Development Authority (DDA) is preparing to auction a 10.43-acre plot in Sector 22, Dwarka, where a luxury mall, corporate office spaces and premium residential facilities are planned in the mixed-use complex.

This will be first time the DDA will offer commercial, office spaces and residential facilities within one integrated project.

The plot will be allotted on a 55-year licence period to the selected developer, who will be responsible for designing, financing, constructing, operating and maintaining the complex for the abovementioned period before handing it over to the DDA at the end of the contract.

Though the reserve price for the auction has been fixed at Rs 25 crore, officials hope the land is expected to fetch higher price. The application process closed on Tuesday and the e-auction is scheduled to be held later this month. Several major real estate firms have expressed interest in the project.

According to the development norms issued for the site, at least 50 per cent of the floor area ratio (FAR) must be dedicated to high-end retail and office spaces, while another 30 per cent FAR is earmarked for serviced apartments and luxury guest houses.

A minimum of 10 per cent FAR has been reserved for public facilities such as medical centres and training institutes. The project permits a maximum FAR of 300 and ground coverage of up to 50 per cent.

The plot falls within Dwarka’s transit-oriented development zone, where expanding Metro and road connectivity has increased interest among private developers. Once allotted, the project is expected to be completed within three to four years.

DDA officials said they were shifting their approach from conventional land disposal to creating modern economic and employment hubs.

In August, the DDA allotted a five-star hotel site at Nehru Place, projected to generate about Rs 10,000 crore over the next 55 years. Other hotel, hospital and commercial parcels are expected to be offered to private developers for long-term development in the coming months.