CAG’s report says DMRC finalized four property leases based on single bids, with the amount realized being only 0-3% over the reserve price, or the minimum price at which bids can be made. The audit attributes the low response to restrictive land use clauses in the allotment letters and “stringent qualifying criteria fixed for the bid process”.
Land development is a major source of revenue for DMRC. For the fiscal year ended March 2007, DMRC earned Rs222 crore from operations, Rs251 crore through real estate development and some Rs68.70 crore from other sources such as consulting.
http://www.livemint.com/2009/02/18234118/CAG-questions-Delhi-Metro821.html
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DMRC land acquisition
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