HSVP to monetise unused land in Gurugram and Pataudi

GURUGRAM: Reeling under a financial crisis, the HSVP is planning to monetise its unplanned and unused land. The development authority has identified such land parcels in sectors 9, 10 and 49 in Gurgaon and Sector 1 of Pataudi.

Around 300 plots are expected to be developed on these land parcels and the HSVP is hoping to raise some Rs 500 crore from the auction of the same.

In Gurgaon’s Sector 9, for instance, the HSVP has identified land parcels near plot number 1232P on which officials say around 30 residential plots can be developed. The land parcels are along the 10-metre road of the sector. The authority is also planning to develop a shopping centre in the area. The plots could fetch between Rs 1-1.5 lakh per square yard in this sector, according to officials.

Similarly, the HSVP is planning to auction a land parcel reserved for the development of group housing societies in Sector 49. The auction of this land is expected to fetch around Rs 30-40 crore.

In Sector 10 of Gurgaon, the HSVP is planning to auction two plots near the community centre — one of 2,700 sq ft and another of 3,800 sq ft size. At present, the land is being used as a garbage dumping site, causing inconvenience to the residents of the area. The development authority has also identified around 6.54 acres of land in Sector 1 of Pataudi, on which around 175 residential plots can be developed.

Estate Officer-I of HSVP (Gurgaon) Vikas Dhanda said they are preparing a plan for the monetisation of unused land. “All these plots will be sold through e-auction.”

HSVP has already tweaked the plan for developing a Ashina project in Pataudi. Around eight acres of land earmarked for developing flats under the Ashiana scheme for economically weaker section (EWS) will be now converted into a plotted residential society. HSVP is planning to raise around Rs 200 crore from the sale of over 160 plots and commercial space.