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Home / Gurugram / HSVP rakes in ₹250 crore from auctions of plots

HSVP rakes in ₹250 crore from auctions of plots

gurugram Updated: Oct 12, 2020, 23:46 IST

The Haryana Shahari Vikas Pradhikaran (HSVP) has managed to earn ₹250 crore in the last four auctions held since July. The authority managed to sell both commercial and residential properties at these auctions at a premium. HSVP officials said that due to the strong response from buyers, the authority has now identified several large properties in the city for a mega auction to be held on October 23. In this auction, properties in the commercial sectors of the city will primarily be auctioned.

Vivek Kalia, estate officer, HSVP, said that in the previous auctions, the authority managed to earn over ₹250 crore by selling both commercial and residential properties despite market sentiments being low. “The reason for the enthusiastic response is that HSVP properties have premium locations and offer good value for money to the investors. The properties were of different sizes and were rightly priced which helped in their sale,” he said.

To offset the large amount of loan burden, the authority has been on a spree to identify its properties and sell them to raise funds. Since last month, the authority had also started an exercise to get its plots measured so that these could be listed in auctions.

As per the details shared by the authority, the auction held on July 15 generated a total revenue of ₹15 crore, the one on August 14 generated ₹49 crore. Similarly, the auction on August 28 generated ₹127 crore, while the one on September 29 generated a total revenue of ₹66 crore.

HSVP has also listed 23 large commercial properties that would be put on auction on October 23. As per the details shared by the authority, Sector 29 has the maximum number of plots and these include three for shopping complexes, two for shopping malls and three for office towers. In Sector 43, there are sites for two commercial complexes. A number of large sites are also spread across the city, said officials, adding that the auction has already generated interests among prospective buyers.

Jitender Yadav, HSVP administrator, said that given the strong response of buyers, the authority is expecting to sell large commercial sites in the upcoming mega auction.

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