HSVP does it again. Selectively re-allots disputed plots in Gurugram at prime locations.

Once again non-application of mind and careless attitude of HSVP which was earlier known as HUDA has exacerbated the never-ending woes of residents and plot owners of Sector-57, Gurugram.

Sector-57, Gurugram is still reeling under the atrocious enhancement and matter is still unresolved, despite several assurances for the HSVP and worthy Chief Minister Sh Manohar Lal  himself, now this sword of ambiguity in the name of stay on plots hangs plot owners and residents.

The HSVP says that more than 1000 plots of Sector-57, Gurugram fell into the category of being omitted or bears the status of court stay. HSVP says that landowners on whose land these plots have been carved out, have approached Hon'ble High Court & Hon'ble Supreme Court for the release of their lands under the provisions of Section 24(2) of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013. The matter is either pending in either of the above-mentioned courts.

It is difficult to understand when landowners went in court for relief in the years 2014 and after, then why HUDA/HSVP allowed the sale purchase and construction of these plots, these developments were not told to the plot owners, who are equal stakeholders in this development.

What does this stay means?

This stay means that no transfer permissions for sale of plots, no completion certificates after the construction of the house etc would be given by the HSVP.

How this would be resolved?

Until HUDA/HSVP appeals or makes prayer in courts where matters are pending saying that 3rd party interest is also being created and someone else other than Land Owner and HUDA/HSVP is also affected because of this stay imposed by HSVP citing court orders.

Those who are immediately affected by this stay and who are denied the sale or purchase and those who are unable to get completion certificate etc should make a representation to HSVP and later will have to approach the concerned court for seeking relief.

TO KNOW IF YOUR PLOT IS UNDER THE STAY OR OMISSION THE

CLICK HERE

Author of this blog Pankaj Yadav is a practicing advocate at High Court of Punjab and Haryana, Chandigarh and is taking up the matters pertaining to HSVP/HUDA Issues like delay possession, alternate plots, enhancement, etc are being taken by him. The author can be reached at pankajyadav.legal@gmail.com or +91-9711791179

Plot rates sees 30-40% rise in Gurugram & Independent Builder Floors rates in Gurugram are bound to rise in coming days.

There was a steep fall in rates of Delhi after demonetization and subsequently, Gurugram also bore the brunt of this demonetization. Besides this shortage of parking space, increasing traffic in lanes of Delhi roads has caused ripples in plot rates in neighbouring Gurugram.

Post demonetization, in the last 10-12 months there has been and a steep rise in property rates and following the trend Gurugram has also seen an unprecedented rise in the plot rates. As of today this hike is limited to the plot rates and hasn't affected the floor and apartment rates as yet. There have been 25% to 40% rise in plot rates all over Gurugram.

This rise in the price of the Plot has been mainly attributed to the approval of 4^th Floor and increase in FAR to 198%, therefore those persons who were in the business of constructing floors in Delhi found Gurugram attractive. You will see the spike in the construction activities throughout Gurugram.

It can be easily seen that least developed Sector-57 of Gurugram has seen rampant constructions and plot rates have increased from Rs 50,000/- to 95,000/- per sq yards in last 6-7 months.

Now the moot question is that what happened to the rates of Independent Builder Floors in Gurugram have they remained stable or increased?

During the last 2 years, the rates of the plot haven't increased in the magnitude of the plot rates, rather they have been on the same slab for the last 2 years. The main reason which can be attributed to this that builders who purchased a plot at cheaper rates are still earning the same or more, as compared to the one who has started building floor after buying the plot at increased rates. More or less the current inventory is being sold at the same rate as it was 2 years back (marginal increase can be seen at some places).

What will happen the rates of Independent Builder Floors in coming days?

It is the simple age-old concept of demand and supply which will ascertain the rates of plots, once the inventory of those builders who procured their plot prior to this hike is sold, the builders who are indulging into constructions of new Independent Builder Floors will be selling their inventory at the prices proportionate to the plot prices.

Comparative Study of the Plot rates and Independent Builder Floors during last year.

Location	Plot Size (sq yards)	Rate of Plot		BHK	Rate of Floor
		1 yr back	Today		1 yr back	Today
DLF Phase 1	270	1.35L	1.50L	3 BHK	2.10Cr	2.25Cr
DLF Phase 2	215	1.35L	1.65L	3 BHK	1.60Cr	1.90Cr
DLF Phase 3	215	1.25L	1.50L	3 BHK	1.40Cr	1.70Cr
Sushant Lok-1	215	1.10L	1.30L	3 BHK	1.10Cr	1.40Cr
South City-1	240	1L	1.20L	3 BHk	1.30Cr	1.55Cr
South City-1	340	90k	1.15L	3+1BHK	1.80Cr	2.30Cr
Sector -45	204	85K	1.10L	3 BHK	95L	1.15Cr
Sector-46	204	95K	1.25L	3 BHK	1.Cr	1.10Cr
Sector -47	204	85K	1.10L	3 BHK	95L	1.10 Cr
Sector -57	204	75K	1.05L	3 BHK	80L	95L
Vipil World	360	65K	90K	3+1BHK	1.60Cr	1.70Cr
Uppal Southend	311	85K	1L	3 BHK	1.30Cr	1.60Cr
South City-2	240	85K	1L	3 BHK	1.15Cr	1.35Cr
Malibu Towne	240	1L	1.40L	3 BHK	1.45Cr	1.65Cr
Sector -57	263	70K	93K	3 BHK	1 Cr	1.10Cr

Buy it now, else you will miss the bus….

High price and subsequent high maintenance cost in private builder's apartments and builder floor is attracting the home searchers towards as Independent Builder Floors of HSVP's Sectors and Private Colonies. It highly recommended that those who are in dual mind whether to wait for a falling price or buy at current price should buy decently constructed Independent Builder Floors anywhere in Gurugram. Local administration is giving a push to basic infrastructure of Gurugram and buyers are advised to get into this rush bus else they will miss the bus.

Disclaimer: The opinion of the author is based on personal learnings. Please re-confirm rates before buying or selling properties.

The Author of this article Pramod Singh is into real estate business since last decade. He can be reached at +91-7000042762or +91-9899790003 for consultations and assistance. Kindly write your query in comments.