GURGAON: Despite slowdown in real estate market and poor response to auction of commercial properties, Haryana Urban Development Authority (Huda) is preparing an ambitious plan to auction its unsold land in urban areas to raise much-needed funds for development works.
Along with the commercial properties in market of the developed sectors, Huda will also put plots reserved for nursing homes, schools, hotels, clinics and Group Housing Societies under the hammer. Huda had listed 96 commercial properties in Gurgaon, Dharuhera and Rewari for auction in March, but had managed to sell only 10.
“We got a good response for auction of properties in Panchkula recently. We are hoping to attract buyers in Gurgaon and other urban areas as well,” additional chief secretary of department of town and country planning P Raghendra Rao told media.
Huda is going through deep financial crisis, and the state government has expressed its inability to provide financial assistance to the urban development body.
Credits Times of India