Haryana shahari vikas pradhikaran to auction land of three failed projects

GURUGRAM: The Haryana Shahari Vikas Pradhikaran (HSVP) is going to auction around 21 acres of land of three real estate projects, which failed to take off, in order to recover pending external development charges (EDC) from the builders. This will be the first time in the state that the development authority will auction the land of failed projects to recover dues and refund investors.The report is awaiting the state government’s approval.

Between 2016 and 2018, the department of town and country planning (DTCP) cancelled the licences of 21 commercial and residential projects of different private developers in Gurgaon for a range of reasons, including failing to pay EDC and bank guarantee, not carrying out construction, non-renewal of licence and not complying with building norms. Out of these projects, land of three commercial projects will be auctioned to recover the dues, HSVP officials said.

TOI had reported in September about HSVP’s plan to auction the land of these projects. A meeting was recently held under the chairmanship of HSVP (Gurgaon) administrator Jitender Yadav to review these projects for auction. The committee reviewed the cases of the 21 projects with cancelled licences, out of which 14 are under litigation and have obtained stay from the authorities concerned.

Out of the remaining seven cases, three cases have been newly included in the list, for which the committee asked DTCP to collect the information regarding third party rights from the developer, if any, and instal notice boards at the site in coordination with the HSVP executive engineers concerned.

Out of the remaining four cases, the committee has decided to proceed with the auction of land of three projects after conciliation of outstanding dues to be recovered by the government and buyers. The fourth is a Unitech project which is occupied by the buyers. “We have forwarded our report to the state government seeking approval to auction the land of three failed real estate projects. People who have invested in these projects will get refunded from the amount collected through auction of the land,” said Yadav.

Talking about the three projects, he said DTCP had issued a licence to Travancore Marketing Pvt Ltd in 2013 for developing a commercial project over 2.49 acres of land in Sector 102.