DDA’s oversight led to loss of Rs 150 crore
A lot of the alleged financial irregularities in various CWG-linked projects being undertaken by the Organising Committee (OC) might be coming to light now.Updated: Aug 05, 2010, 00:26 IST
A lot of the alleged financial irregularities in various CWG-linked projects being undertaken by the Organising Committee (OC) might be coming to light now.
But the Comptroller and Auditor General (CAG), in its report tabled in Parliament in May, had revealed how the DDA, the civic agency responsible for constructing the Games village, had suffered losses worth Rs 150 crore on two counts.
Not only did DDA purchase flats at a cheaper rate from private developer Emaar-MGF, which was given the contract to develop the Games village, but it also allowed the developer to construct excess floor area ration (FAR) of 4,40,301 square feet, for which an upfront amount of Rs 65.23 crore should have been recovered from the developer.
As per the agreement with DDA, the FAR allowed was 21,66,577 sq. ft. But the developer constructed flats with an FAR of 26,06, 878 sq.ft.