HSVP sells 100 properties worth ₹165 crore in a mega auction

The Haryana Shahari Vikas Pradhikaran (HSVP) on Tuesday sold 100 properties worth a total of ₹165 crore during a mega auction, in which both commercial and residential properties in Gurugram, Rewari and Dharuhera were sold at premium rates said officials on Thursday. Authority officials said that though they had expected to raise more money, it seemed that the slowdown caused by Covid-19 pandemic had an impact on the auction and that things might improve in the next few months.

As per the details shared by HSVP officials, the department managed to sell properties worth ₹135 crore in sectors 1 to 57 in two estates of Gurugram. “The response to the auction was good and several sites were sold at premium. In the last auction too we had managed to generate over ₹100 crore and majority of auctions were very competitive,” said Vivek Kalia, estate officer, Gurugram.

HSVP officials said that over 200 properties were put on the block and they had managed to sell 102 properties.

Jitender Yadav, HSVP administrator, said that 28 residential properties were sold for ₹59.79 crore and majority of those were in the city. “Fifty-five commercial properties were sold for around ₹68 crore. Nineteen sites for schools, nursing homes and clinics were sold for ₹46.28 crore. The positive development for us is that many sites in Rewari and Dharuhera were sold for double the reserve price,” said Yadav, adding that the buyers have faith in HSVP as a real estate developer.

The only hitch, officials said, was couple of mega properties in Sector 29, whose price was reserved around ₹300 crore each, did not find favour with buyers.

The mega auction of commercial and residential plots by Haryana Shahari Vikas Pradhikaran(HSVP) was originally scheduled for October 23 but due to technical glitches it was postponed to October 27. The authority hopes to offset some of its massive debt burden with the money collected from auction.

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