HUDA to e-auction leftover plots

Parveen Arora

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Tribune News Service

Karnal, December 21

Amid uncertainty in the real estate market due to demonetisation, the Haryana Urban Development Authority (HUDA) has started the process to auction its leftover plots lying vacant for 10 years or more.

HUDA has started the process to auction residential and commercial plots through e-auction by abandoning its previous policy of lucky draw. Now, the highest bidder will get the plot.

As per the authorities this initiative will help in generating the maximum revenue for HUDA, which will be further used in development works in sectors.

Besides, it will bring transparency and only end users will get the plots. Earlier, there was a nexus of investors and dealers, who used to make a pool, get plots on their name and later sell those at high prices, said sources.

The process to earmark leftover plots which have not been sold for the last 10 years or more has been started by the department.

“We have started the process to earmark plots left over for the last 10 years or more in various sectors of the city,” said Ashwini Malik, Estate Officer (EO), HUDA. The e-auctioning process was completed for 14 sites in Sector 9 last week, of which one had been sold, he added.

Now, they were planning the e-auction of 20 sites in Sector 5 in the middle of January, the EO maintained. He said plots in Sectors 4 and 8 and old tehsil would be offered through e-auction soon.

He said the reserve price for each plot had been fixed. Those interested would have to register on the official website www.huda.org.in and deposit 2 per cent of the reserve price at the time of registration through e-payment.

The successful bidder would have to deposit 8 per cent with HUDA after the auction, he said. On getting the allotment letter, the successful bidder had to deposit 15 per cent, he said.

The remaining 75 per cent of payment had to be deposited within 120 days of the auction, he said. After clearing the amount, the successful bidder would get offer of possession, the EO maintained.

However, real estate experts considered it to be a hard step for HUDA as there was a major slump in the market with a fall in buyers.

Deepak Kumar, a real estate expert, claimed that it might be an attempt by HUDA to generate revenue, but there was no buyer in the market.