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The Haryana Municipal Properties Auction Policy, 2024 introduces an online auction system for selling municipal properties, ensuring transparency and accessibility. The Municipal Corporation of Gurugram (MCG) is identifying land for auction, with a dedicated online portal under testing. Bidders must register and submit an earnest money deposit (EMD) before participating. Bid increments start at INR 30,000 for INR 1-5 crore properties and INR 50,000 for those above INR 5 crore. The MCGs vacant land in sectors 33, 35, 58, 61, and others is expected to generate significant revenue, boosting urban development and infrastructure across Haryana.
The Haryana government has introduced the Haryana Municipal Properties Auction Policy, 2024, aimed at streamlining the sale of municipal properties across the state. This new policy requires municipalities to identify properties that will be made available for sale through an online auction system. The Municipal Corporation of Gurugram (MCG) is actively working to pinpoint land within its jurisdiction that can be auctioned off electronically. Under the new policy, auctions will be conducted exclusively online, following specific procedures set forth by the Urban Local Bodies (ULB) department. This approach is expected to enhance transparency and accessibility for potential buyers. Advertisement
To participate in the auctions, interested buyers whether individuals, firms, or companies?must register on a dedicated online portal. This portal will serve as the central hub for all auction-related activities, including the publication of auction notifications and bid documentation. Participants are required to submit an earnest money deposit (EMD) within specified deadlines to qualify for bidding. Auctions will feature two categories: individual properties for specific purposes and multiple plots or shops at a single location.
A senior MCG official explained that the portal is currently undergoing internal testing. Once operational, it will enable applicants to enroll, view available properties, and participate seamlessly in the bidding process. The portal is designed to manage everything from bidder registration to payment processing for the winning bids.
The auction policy outlines specific bid increments based on the reserve price of properties. For properties priced between INR 1 crore and INR 5 crore, the minimum bid increment will be INR 30,000 during the first round, increasing to INR 45,000 in subsequent rounds. For properties exceeding INR 5 crore, the initial increment will be INR 50,000, followed by INR 75,000 in later rounds. Winning bidders are required to pay 10% of the final bid amount within 98 hours after the auction ends. The first installment of 15% must be paid within 30 days, and the remaining 75% is due within 120 days, all without interest. The EMD is set at 5% of the property's reserve price.
In 2022, the MCG launched a plan to develop 224.77 acres of vacant urban land, which was expected to generate around INR 10,000 crore in revenue. The recent increase in circle rates has further boosted the anticipated income from these properties. Official records indicate that unoccupied urban land is located in various sectors, including 33, 35, 58, 61, 62, 65, 75, 102, 102A, 103, 106, 108, and 109. These parcels offer significant opportunities for diverse developments, including residential complexes, commercial spaces, and necessary infrastructure. The government aims to leverage these assets to improve urban living conditions and stimulate economic growth in the region.
The introduction of the Haryana Municipal Properties Auction Policy represents a significant step towards modernizing the process of selling municipal land. By utilizing an online platform, the government aims to create a more efficient and transparent bidding process, ultimately benefiting both the municipalities and potential buyers. As the policy rolls out, it will be interesting to see how it impacts urban development and revenue generation in Haryana.
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