HSVP to auction commercial spaces in Gurugram to tackle funds crunch

GURUGRAM: The Haryana Shahari Vikas Pradhikaran (HSVP), which is facing a funds crunch, is hoping to get better prices for its properties. It is looking to get people to participate in online auctions without giving out detailed specifications of properties. They will be shown to successful bidders only after the process is completed. Under the new system developed on the lines of the online bidding process of Haryana State Agriculture Marketing Board, HSVP will only share the size of the property and its location in the city.

Other important details, which generally decide the rate, will not be shared with the bidders this time. Till now, HSVP was conducting manual auction of the properties with all the information about the property provided. Under the new system, the bidder will not know which property he will get. The first auction under the new system is scheduled for February 28 for some shops on jail road. HSVP (Gurgaon) administrator Jitender Yadav said they are hoping the new system will help in generating more revenue and “it will be good for all”. “To participate in the bidding process, one has to register on our website by paying Rs 1,000. The registration will be valid for one year. After that, people will get information about the auction in which they can participate after paying pre-fixed earnest money. On the scheduled date, people can participate in the auction,” he said.

Source: https://realty.economictimes.indiatimes.com/news/commercial/hsvp-to-auction-commercial-spaces-in-gurugram-to-tackle-funds-crunch/74314387

February 26, 2020

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