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Delhi Development Authority auction of two commercial plots in south Delhi’s Saket
fetches it Rs 260 cr.
First plot of 3,000
Sq Mts. with reserve price of Rs. 79.69 Crores was bought by the Unitech Group
for Rs. 133.01 Crore - almost 60% more than the reserve price.
Second Plot of 2,500 Sq. Mts. with a reserve price of Rs. 70 Crores was
bought by Saluja Builder for Rs. 126.29 Crores.
This makes it the most expensive commercial real
estate in Delhi as of today. Tentative estimates are that builders will sell
it in the range of Rs. 13,000 to Rs. 15,000 per Sq. Ft.
Saket district centre, currently dowdy, is spread over 54 acres could
become a showcase of Delhi's new development.
Malls,
offices and serviced apartments will be built here. After this auction, around 2.5 million
sq ft of space is currently under construction. Both Retail and Commercial.
Guess is that, revenues in the range of Rs. 300 to 400 Crores can be
generated through leisure, retail and entertainment. Neighbourhood of this
zone is surrounded by posh areas. This may well be the nail in the coffin of
Gurgaon malls.
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