CHANDIGARH: The Haryana Shehri Vikas Pradhikaran (HSVP) is poised to rebrand itself as a government-run real estate agency, a decision that may not be well received by private real estate agents and the general public.
In response to a shortage of land, HSVP plans to facilitate allottees across its 30 urban estates to resell their properties through an e-auction platform. Allottees will need to express interest (EOI) and pay an initial facilitation fee of 0.25% of the offer price, followed by 0.50% of the final deal amount post-auction. The first e-auctions are scheduled for September 24-28 in Panchkula, Faridabad, Gurugram, Rohtak, and Hisar. The HSVP chief administrator’s office has instructed estate officers to set up the portal for EOI and auction registrations.
HSVP officials assert that this initiative aims to offer a transparent and straightforward transaction process for genuine buyers and sellers. However, critics view it as a move that transforms a non-profit operation into a profit-driven venture. Real estate agents express concerns about the feasibility of this approach, given the existing dynamics of property transactions.
Congress MLA Aftab Ahmed from Nuh described this decision as potentially disastrous. “This organization was initially established to ensure property facilitation on a no-profit, no-loss basis. The government has shifted away from lotteries to auctions, and now this. It raises suspicions of a hidden agenda, especially after the recent surge in collector rates,” he stated.
Suresh Aggarwal, a representative of the state-level property dealers’ association, labeled the decision unfortunate. “The resale market operates on diverse payment methods, including cash and agreed-upon amounts. Now, buyers and sellers must conduct transactions online or via cheque, complicating what should be straightforward negotiations that require in-person discussions,” Aggarwal added.
