HSVP eyes commercial land deals with foreign firms

HSVP eyes commercial land deals with foreign firms
16/03/2020 , by , in News/Views

To raise funds to clear its debt, the Haryana Shahari Vikas Pradhikaran (HSVP) is eyeing multiple big land deals with investors and companies based in Canada, South Korea and Japan as they have shown interest in buying commercial properties (land) from the authority.

HSVP has a huge land bank at prime locations in Gurugram worth thousands of crores. The authority is now trying to monetise these lands to repay its loan. “Multiple investors have shown interest in buying land from us,” said estate officer-2 Vivek Kalia adding that the authority auctions land through the online portal where anyone can participate.

In November 2017, HSVP had sold around 10 acre of commercial land in sector 47 for Rs 842 crore through e-auction to IKEA. The multinational group, which has corporate office in Cyber Hub, is expected to come up with its office and commercial space on the given land. In November 2016, Hyundai had purchased a plot in Sector 29 for Rs 205.88 crore through e-auction.

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