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Home / Gurugram / HSVP will auction 15 plots to reduce ₹12K crore debt burden

HSVP will auction 15 plots to reduce ₹12K crore debt burden

gurugram Updated: Sep 26, 2020, 23:13 IST

The Haryana Shahari Vikas Pradhikaran (HSVP) has identified 15 commercial properties in Gurugram to be auctioned in October.

The move follows the authority’s decision to monetise its land assets and reduce its debt which, according to an RTI reply in March, stood at around ₹12,000 crore. The auction is expected to raise ₹1,000 crore.

As per the details shared by the authority, Sector 10 has the most number of plots with three for shopping complexes (measuring 6,080 square metres (sqm), 6,096 sqm and 5865 sqm respectively), two sites for shopping (7,820 sqm each) and three sites for commercial office (each 7,820 sqm).

In sector 43, two commercial complexes of sizes 2,320 sqm and 3,120 sqm shall be part of the mega auction. Sector 47 has three sites measuring 4,327 sqm, 6,751 sqm and 82,798 sqm.

HSVP will also auction a site for a college in sectors 52 A and 53 of 34,340 sqm each.

The authority may identify more commercial sites up until auction day, the date of which is yet to be finalised. Apart from large commercial plots, other vacant plots too shall be identified and auctioned in the coming months, HSVP said.

Jitender Yadav, administrator, HSVP, said, “We will identify plots in other sectors as well to include in the planned auction. We have a strong reason to believe that these plots will be sold at a premium as the auctions held in last few months have been successful.”

“There are around 750 vacant plots in estate office one and I have given directions for measuring them for auction. Encroachers will be at the earliest,” said Bharat Bhushan Gogia, estate officer I.

As per information shared by the authority in a reply to an RTI filed by city resident Aseem Takyar, the loans taken by it were from a number of private and public sector banks. The loans paid for projects across the state and also to pay compensation and enhancements to farmers whose land had been acquired for development. The figures were a drop from its reply to another RTI in 2019, when the authority said that the loans it took from banks stood at ₹19,611 crore till December, 2018.

Chander Shekhar Khare, the then HSVP administrator, had said that authority was facing financial crunch due to the loans and they were looking at monetizing the land assets to repay the debt.

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