DDA Plans Dwarka Auction for Mall, Offices and Luxury Homes

The​‍​‌‍​‍‌​‍​‌‍​‍‌ Delhi Development Authority (DDA) will be putting up for sale the land spanning over 10.43 acres in Sector 22, Dwarka that is aimed at the creation of an integrated luxury complex comprising a high-end mall, premium office spaces, and luxurious residential units.

This is the first time when DDA is permitting a single mixed-use project to have all three components - residential, commercial, and office - in one coordinated development framework.

Key Highlights

• DDA to auction 10.43 acres in Dwarka for an integrated luxury complex.
• Project includes a 55-year licence period with defined FAR for commercial, residential and public use.
• Site lies in the TOD zone, supporting dense vertical development and new economic activity.

The land will be given on a 55-year licence period, under which the chosen private developer will be the one designing, financing, building, operating, and maintaining the facilities for the entire period and then transferring them back to DDA.

The authority has set a minimum reserve price of Rs 25 crore, but the officials anticipate that the bidding will go far beyond this limit. The last date for submission of application was Tuesday, and the e-auction will be held shortly.

Being in the transit-oriented development (TOD) influence zone, the land is well-positioned to take advantage of the Dwarka’s rapidly growing transport infrastructure. The project specifications provide that at least 50% of the floor area ratio (FAR) be devoted to commercial spaces, which would include a luxury retail mall and corporate offices.

DDA officials informed that the project is indicative of the agency’s overarching plan to create contemporary economic hubs and draw long-term private investments after similar premium land allotments were made earlier this ​‍​‌‍​‍‌​‍​‌‍​‍‌year.