HSVP Launches Online Platform for Urban Estate Resale
Chandigarh: In a move that may not go down well with the private real estate agents as well as the general public, the Haryana Shehri Vikas Pradhikaran (HSVP) is set to have a new identity as a government-run real estate agency, according to a recent decision taken by the HSVP authority. Faced with a paucity of land bank, the HSVP will provide a platform to its allottees across all the 30 urban estates to resell their units through e-auction. For this purpose, the allottees must give an expression of interest (EOI) and pay a fee of 0.25% as an initial facilitation fee on the offer price and then 0.50% of the deal closure amount after the e-auction, which is scheduled to be conducted from time to time.
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.
