HSVP Launches Online Platform for Urban Estate Resale
The Haryana Shehri Vikas Pradhikaran (HSVP) is set to introduce an online platform for the resale of urban estate units, a move that has been met with mixed reactions from real estate agents and the public.
HsvpReal Estate MarketOnline PlatformProperty ResaleUrban EstatesReal Estate NewsSep 07, 2025
To start with, the first round of e-auctions will be held in the urban estates of Panchkula, Faridabad, Gurugram, Rohtak, and Hisar between September 24 and September 28. The HSVP chief administrator's office on Friday formally communicated this to the estate officers concerned to make arrangements for the operations of the portal created for the EOI as well as the e-auction registration.
While the HSVP officials claim it to be an opportunity for the genuine buyers and sellers to have a clean and transparent deal, which could even get some rebate on statutory fees and processes involved in the registration and transfer of properties, the opposition terms it as yet another futile exercise to turn a non-profit, no-loss venture into a money-minting machine. At the same time, the real estate agents are skeptical about the success, keeping in view the dynamics of property dealings and modes of transactions and negotiations.
In fact, this could be the most disastrous decision the HSVP authority could have taken so far. Initially, this organization was carved out to ensure the facilitation of all kinds of properties to the people of Haryana on the principle of no profit and no loss. Then, firstly, this government discontinued the allotment through the draw of lots and started selling through auctions. Now, they have taken this decision. They must have some hidden agenda, as this has come after the unprecedented hike in the collector rates, said Aftab Ahmed, Congress MLA from Nuh and former deputy leader of opposition.
Suresh Aggarwal, an office bearer of the state-level property dealers association, termed the move as the most unfortunate. The real estate market, especially that of the resale of properties, runs on two parallel modalities of payment: cash and through cheque of the collectorate or amount mutually agreed upon by the buyers and the sellers. In this case, the buyers and sellers shall have to indulge only in online or cheque transactions. This is certainly not a convenient venture. Rest, let us see how it works out. There are other issues like practical negotiations, which are only possible through one-to-one discussions. You can't have this on portals, said Aggarwal.
Frequently Asked Questions
What is the HSVP and what is its role in the real estate market?
HSVP stands for Haryana Shehri Vikas Pradhikaran, a government agency in Haryana responsible for urban development and real estate management. It facilitates the allocation and management of properties in urban estates across the state.
What is the new initiative introduced by HSVP?
HSVP has introduced an online platform for the resale of urban estate units through e-auction. Allottees can express interest (EOI) and pay a facilitation fee to participate in the e-auctions.
When will the first round of e-auctions take place?
The first round of e-auctions will be held in the urban estates of Panchkula, Faridabad, Gurugram, Rohtak, and Hisar between September 24 and September 28.
What are the fees associated with the e-auction process?
Allottees must pay a 0.25% facilitation fee on the offer price and a 0.50% fee on the deal closure amount after the e-auction.
What are the concerns raised by real estate agents about this new platform?
Real estate agents are skeptical about the success of the platform, citing issues with the dynamics of property dealings, the need for one-to-one negotiations, and the inconvenience of online or cheque transactions.
Related News Articles
Mumbai's Elderly Drive Property Registrations with 200% Hike Post-Covid
Property registrations from senior citizens in Mumbai expected to surpass 23,000 in 2024, with a significant increase in market share.
Godrej Properties Raises Rs 64.6 Crore via Debenture Issue to Investors
Godrej Properties, a leading real estate developer, raises Rs 64.6 crore through debenture issue to investors on private placement.
Discover ₹50 Lakh Properties in Mumbai and MMR: Your Ideal Home Awaits
Explore the limited availability of properties valued at ₹50 lakh in Mumbai and the MMR region, where tiny studio apartments and compact homes are your best bets for a comfortable living space.
Alexandria Real Estate Equities Launches Innovative Debt Framework
This new debt framework is designed to enhance the company's financial flexibility, enabling it to adapt to market conditions and seize investment opportunities more effectively.
NCLT Revokes Logix Infra Insolvency, Citing Fraudulent Activities
The National Company Law Tribunal (NCLT) has made a significant decision, revoking the insolvency proceedings of Logix Infra, a prominent real estate developer, citing fraudulent activities. This move has sent ripples through the Indian real estate sector
BJP Accuses National Herald of Money Laundering Through Fake Rents and Ads
The BJP has raised allegations against the National Herald, claiming that the publication has been involved in money laundering activities through fake rents and advertisements. The party asserts that this is a tactic to cover up the real estate transactions and financial discrepancies.