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.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

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.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..