Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Hindustan Times
Hindustan Times
Abhishek Behl

HSVP plans mega auction of plots, aims to rake in Rs 2,000 crore

Buoyed by the success of four auctions in the past three months in which it managed to rake in more than Rs 250 crore, the Haryana Shahari Vikas Pradhikaran (HSVP) has planned a mega auction of plots on October 23, targeting more than Rs 2,000 crore.

Prime properties, including sites for malls, office towers and nursing homes located in prime areas such as sector 29, sector 52, 47, have been listed for sale, officials said.

The rates of some of the plots has been listed above Rs 300 crore and officials expect that buyers, who have depth and ability to develop such properties, will bid for these sites spread across the city.

According to details shared by HSVP, two large commercial sites, one site for a mall and two sites for office towers in sector 29, will be put on the block in this auction.

The reserved price of these properties alone is around Rs 1,200 crore as sector 29 adjoining the Delhi-Gurgaon expressway is a prime commercial area where top corporates and government institutions have set up their headquarters.

A South Korean auto major had bought a plot here for over Rs 200 crore two years ago to set up its headquarters, officials said.

Vivek Kalia, estate officer, HSVP Gurugram, said the authority has planned the mega auction as it had got a strong response in earlier auctions.

“We have listed premium sites for auction after identifying them and the authority is expecting that these would be sold at a higher than the reserved price as the locations are very good and will generate good business and presence for businesses that invest in these properties,” said Kalia.

The Haryana Shahari Vikas Pradhikaran has been driven to monetise its properties across the state, particularly in Gurugram, because it is facing a severe financial crunch.

HSVP has a loan burden of around Rs 12,000 crore, an RTI filed by city based activist Aseem Takyar revealed recently. Officials said that assets are being monetised to reduce this debt and finance other projects as well.

Among those listed by the authority include two commercial complex sites in sector 41; a site for a clinic in sector 9; plots for clinics and nursing homes in sector 9A, a clinic site in sector 10 A; two clinic sites and a nursing home site in sector 38; two nursing home sites in sector 46; two sites for nursing home in sector 47; two nursing home sites and a clinic site in Rewari; a nursing school in sector 5; two school sites in sector 9; two school sites sector 9A; a school site in sector 10A; and three nursery school sites in Rewari.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.