Gurgaon: HSVP plans to collect around RS 1,000 Crore by monetizing the land in Gurgaon.
Development Authority has registered a total of 96 housing and commercial plots, including land intended for nursing homes and hospitals.
All of these properties will be sold via e-auction, officials said.
Authority must pay more than RS 1,000 Crore to farmers for their land obtained in previous years.
During a period of time, the Punjab High Court and Haryana and the Supreme Court have increased the land costs obtained by authorities.
To pay improved compensation, HSVP has borrowed crores from the bank and pay around RS 100 Crore as a monthly interest on the loan.
Of the 96 plots in six different gurgaon sectors, 80 is housing.
Commercial properties include sites for 12 nursing homes, three hospitals, and a hotel.
The estimated price of all this property is around RS 1,000 Crore.Last Year, HSVP changes the use of land several projects to develop housing or commercial plots to be auctioned to raise funds.
At present, more than 660 hectares of HSVP land are under encroachment in Gurgaon, which is almost 466 hectares under the litigation in various courts.
Because of the increasing debt, the authority also struggled to pay salaries to his staff and had taken a loan around Rs 14,250 Crore at the interest rate of 8.05-8.30%.
HSVP Tabun Administrator, said Ajit Balajoshi, “we alayed we landed in Haryana.
HSVP (Gurgaon) has a large land bank, including commercial and housing, and can help in establishing financial authorities.”