HSVP to auction land of 11 failed projects

15 Sep 2020 CW Staff

Image courtesy: Magic Bricks

The Haryana Shahari Vikas Pradhikaran (HSVP) is planning to auction the land of 11 cancelled projects. These projects were cancelled because of the developers' incapacity to pay clear dues, and refund investors. These 11 builders owe approximately Rs 3 billion as external development damages to the development body.

This is for the first time in the state’s history that a development body will auction failed projects lands. If executed, not only will this set a precedence for other states, it can be further used to recover dues and help homebuyers recover their long stuck money in realty projects.

In 2018, the Department of Town and Country Planning (DTCP) cancelled the licenses of 16 colonies due to various reasons ranging from non-renewal of the license, violation of DTCP norms and failure to pay development charges. These 16 projects include 9 commercial and 7 group housing projects and span over an area of 132.8 acres.

The 11 projects to be auctioned are part of hose 16 cancelled projects. These projects are either under construction or partially construction. HSVP took over these projects in March 2019. Builders cannot make any commercial transactions related to these projects. Also, boards have been installed on these plots informing people not to invest in these projects by DTCP.

Most of these projects lie along the Southern Peripheral Road (SPR) and Dwarka Expressway.

A committee has been formed to get the various details related to the projects and the lands on which they were supposed to be constructed. Notices will be issued to these developers, for details such as the number of flats or shops booked in each project and the amount of money collected from buyers, ownership details. The inability to share such details might result in officials visiting their offices to collect the required details.

Image courtesy: Magic BricksThe Haryana Shahari Vikas Pradhikaran (HSVP) is planning to auction the land of 11 cancelled projects. These projects were cancelled because of the developers' incapacity to pay clear dues, and refund investors. These 11 builders owe approximately Rs 3 billion as external development damages to the development body.This is for the first time in the state’s history that a development body will auction failed projects lands. If executed, not only will this set a precedence for other states, it can be further used to recover dues and help homebuyers recover their long stuck money in realty projects.In 2018, the Department of Town and Country Planning (DTCP) cancelled the licenses of 16 colonies due to various reasons ranging from non-renewal of the license, violation of DTCP norms and failure to pay development charges. These 16 projects include 9 commercial and 7 group housing projects and span over an area of 132.8 acres. The 11 projects to be auctioned are part of hose 16 cancelled projects. These projects are either under construction or partially construction. HSVP took over these projects in March 2019. Builders cannot make any commercial transactions related to these projects. Also, boards have been installed on these plots informing people not to invest in these projects by DTCP. Most of these projects lie along the Southern Peripheral Road (SPR) and Dwarka Expressway.A committee has been formed to get the various details related to the projects and the lands on which they were supposed to be constructed. Notices will be issued to these developers, for details such as the number of flats or shops booked in each project and the amount of money collected from buyers, ownership details. The inability to share such details might result in officials visiting their offices to collect the required details.

Technology

29 Jul 2026

AI-Enabled Workflows Lift Profitability and Productivity

Organisations modernising frontline workflows with artificial intelligence, automation and real-time data are reporting stronger financial performance, higher productivity and improved employee engagement, according to a global study by Zebra Technologies and Oxford Economics.The research covered 1,000 senior leaders across retail, manufacturing, transportation and logistics in the US, Mexico, the UK, Germany, India, Japan, Australia and New Zealand.In transportation and logistics, 54 per cent of companies that improved picking and packing operations reported faster operational performance, wh..

Real Estate

29 Jul 2026

India Leads Global AI Readiness but Implementation Lags

Indian companies lead global averages across all eight artificial intelligence readiness indicators tracked by JLL, but only 19 per cent have started making changes to their workplaces, according to the JLL 2026 Future of Work Survey.The study found that 77 per cent of Indian business leaders expect AI to change their office requirements, creating a 58-percentage-point gap between awareness and implementation. The survey covered more than 2,200 CEOs, CFOs and real estate leaders across 21 countries during the first quarter of 2026.Despite concerns over automation, 58 per cent of Indian leaders..

Equipment

29 Jul 2026

Three WOLFF Cranes Build Riyadh Cable-Stayed Bridges

Three WOLFF 180 B luffing jib cranes are supporting the construction of two cable-stayed bridges alongside the existing Wadi Laban Bridge in Riyadh, Saudi Arabia. The project is being developed for the Royal Commission for Riyadh City and executed by the ICRC joint venture comprising IC Ictas and Al Rashid Trading & Contracting Company.The cranes are handling lifting operations including formwork, reinforcement, concrete placement, work platforms, surveying equipment and other construction materials. Each crane is fitted with a 40 m jib, reaches a hook height of 157 m and offers a maximum ..