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
Boosting India's Housing Market: Developers Seek Tax Incentives and Industry Status in Budget 2024
The Indian housing sector is looking forward to the Union Budget 2024, expecting tax reliefs and other sentiment boosters to stimulate growth in the market.
Kalpataru Ltd Set to Enter Nagpur Real Estate Market with Plotted Development Project
Mumbai-based Kalpataru Ltd plans to launch a plotted development project in Nagpur, marking its entry into the city's real estate market. The project will be spread across 37 acres and will have 400 plots of sizes 1,200 to 4,000 sq ft range.
Hong Kong Halts Commercial Land Sales for Seventh Consecutive Quarter
Hong Kong's government has announced that it will not sell any commercial land in the quarter from October to December, citing low demand and high office vacancy rates.
Homebuyers Forum Claims RERA Act Falls Short of Objectives, Urges Consumer Affairs Ministry for Action
A forum representing homebuyers in Maharashtra claims that the Real Estate (Regulation and Development) Act, 2016, has failed to meet its objectives. The forum is now urging the Union Consumer Affairs Ministry to issue specific guidelines to protect consu
Ahmedabad Shines with Top Rental Yields in India
Ahmedabad leads the pack with the highest rental yields in India, clocking in at 3.9%, according to a recent report by Magicbricks. Other cities like Hyderabad, Kolkata, and Pune are also seeing significant increases in rental returns.
Incuspaze Expands with Major Leasing Deal in Gurugram's Thriving Real Estate Market
Incuspaze, a prominent player in the commercial real estate sector, has announced a significant leasing deal in Gurugram, marking a major expansion in one of India’s most booming real estate markets. This move underscores the growing demand for quality of