Jasola real estate prices on rise

NEW DELHI: Jasola, a colony known for water problems, has suddenly become a sought after place.
The Delhi Development Authority (DDA) auctions reflect that the real estate prices have seen an upward trend, even in the troubled Jasola Phase II.
In three days of auctions of residential plots in Jasola, DDA raked in Rs 141.90 crore.
The plots that had a reserve price of Rs 18,000 per square metre approximately and were sold off for Rs 25,000 per sq m, have gone for an average of Rs 44,860 per sq m.
DDA auctioned off 35 plots in Jasola pocket 2 on Tuesday and raked in Rs 42.36 crore, against an expected Rs 31.12 crore. About 70 parties, including 33 companies and 37 individuals, participated in Tuesday”s auction.
A senior DDA official said: “We did not get a good response for Phase II plots in January. But this time we had no difficulty. The reason for this tremendous response is the liberal policies. DDA has allowed even private banks to bid for these plots for their housing projects. Even NRIs and persons of Indian origin were allowed in this scheme.