4 Reasons Why You Should Bid In CWG Village Flats Auction
Delhi Development Authority (DDA) is gearing up to auction as many as 152 flats in the Common Wealth Village which was built by the Emaar Group. The auction which will be conducted electronically, will now start on July 13.
The government is auctioning away three bedroom apartments at the CWG village, in the current round. It has already fixed the reserve price of these apartments which range from Rs 5.4 crore to Rs 6.9 crore per apartments depending on the square feet areas which too range from 1,844 square feet to 2,203 sq feet. Each of these apartments has different ceiling prices. The e-auction has democratized the process of participating in the auction allowing any major with who can furnish the necessary documents, to participate in the process.
What makes this auction attractive?
1. Best location in Delhi: CWG village has the most inventory when it comes to apartments which are up for sale in the heart of Delhi city. Few apartments are up for sale in the area which is minutes away Connaught Place, the business district of Delhi. If location is what you are looking for, CWG village is perfect as it also close to Akshardham Temple.
It is also located very close the Metro station and is also connected to South Delhi by the Barapullah flyover. It is also located beside the DDA Sports Complex.
2. Steady property rates: The property rates in the CWG village are around Rs 20,500 per square feet on an average. The property rates have fallen marginally by one percent recently. This is in line in many other areas in Delhi and NCR where property rates have fallen marginally. Though the development is not very encouraging, the good news come from the fact that the rentals of this area have been growing at a healthy rate of five percent indicating that the area continues to be in vogue.
3. Good construction quality: The resale market has a number of premium apartments around the area which price themselves at around Rs 4.5 to 5 crore for a typical 3 BHK apartments. The apartments in the CWG village however cannot be compared to other apartments around it for many reasons. One of them is the international quality of construction of the villages which are originally built to house international athletes. Around 70 percent of the area in the complex is filled with greens and open spaces. The DDA auction sheet says that such open landscape is impossible to match in Delhi.
4. High-end facilities: In addition to open spaces, the CWG village covers all other aspects of luxury living like a covered car parking, club and swimming pool inside the residential complex.
The apartments in the CWG village have become prime residence areas along with being a landmark for luxury. It has been known that apartments in the area are prized possessions in the top echelons of the society and sought after even by Rajya Sabha MPs amongst others.
(Katya Naidu has been working as a business journalist for the last nine years, and has covered beats across banking, pharma, healthcare, telecom, technology, power, infrastructure, shipping and commodities)