"The Price Fixation Committee will engage two independent valuers and the higher of the reserve prices recommended by the two will be the reserve price," the DDA said.

The decision was taken during the Authority meeting of the urban body on Wednesday.

"It has been observed for over the last 2-5 years that DDA has not been able to dispose of most of its commercial plots. As per feedback the disposal was found to be hindered due to high reserve price fixed by DDA," it said in a statement.     

As on date, the reserve price for auctioning the DDA's properties is fixed by a Price Fixation Committee headed by Commissioner (Land Disposal) and comprising members from Planning, Finance and Management Wings. The recommendations of the Committee are approved by Finance Member and vice-chairman of the DDA.

"The Committee fixes the reserve prices on the average auction rate of last auctioned rate which is average auction rate of last auction in the same zone or nearby zone updated by 12.5 percent every year. This had resulted in very exorbitant price of property resulting in its non-disposal," the housing authority said.     

The Authority today also proposed that the plot area in case of primary school will be reduced from (0.2- 0.4 ha) to 0.2 ha only and for senior secondary school from (0.6-0.8 ha) to 0.4 ha, to meet requirement of more plots for education facilities.

The proposal was in principle approved. Regarding parking norms the Authority said that the same may be relooked and again brought to the Authority.

The issue of properties located in 22 Nazul Estates like Paharganj, Karol Bagh, among others, where the properties are being used for purposes other than prescribed use was also discussed in the Authority meeting.

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