HSVP (formerly known as HUDA) has been the power behind the transformation of cities in the state of Haryana. The Haryana Development Authority Act laid the foundation for HSVP, one of whose aims is to provide housing solutions to Haryana citizens at an economical rate. The HUDA Plot Scheme is a flagship scheme under this aim and offers residential, commercial, and industrial plots to those who fulfill the eligibility criteria.
Understanding the HUDA Plot Scheme of HSVP
HSVP (Haryana Shehri Vikas Pradhikaran), earlier known as HUDA (Haryana Urban Development Authority), is the authority in charge of urban planning and development in Haryana. As such, it has the responsibility for comprehensive development and regulation of urban areas throughout the state. HSVP is the organization that ensures the proper growth of urban areas, the provision of essential infrastructure, and the easy conduct of the allotment of housing and land in the state. One of its major roles is the provision of land for residential, commercial, and industrial use by implementing schemes like the HUDA Plot Scheme.
The HUDA Plot Scheme aims to allot land to people whose land has been acquired by the government for development purposes.
Types of Plots and Target Segments
- Locations: Residential or commercial plots under the HUDA (now HSVP) scheme are obtainable in the main urban areas such as Gurugram, Faridabad, Panchkula, Jind (Sector 9), and Hisar.
- Plot Sizes: The scheme allows one to have different plot sizes to choose from, ranging from 60 to 200 square yards in area for residential plots.
- Payment Options: One can pay for the purchase in the most suitable manner following the payment outline. For example, for residential plots, 10% of the tentative current price of the plot is payable at the time of application submission. Rest of the money can be paid as a lumpsum upon allotment or in later installations with interest.
How to Participate in a HUDA Scheme?
Finding Scheme Information and Brochures
1. Official Website
For comprehensive and up-to-date information about the schemes, the types of plots, locations, sizes, and categories, etc., one can check the HSVP official website.
2. Brochures and Notifications
Besides the scheme particulars, the registration procedure and plot categories are also mentioned in the scheme brochures released by the HSVP, downloadable from the portal. Dates for submission and registration are also mentioned in these brochures.
3. Newspaper Announcements
Information regarding plots for sale and auction dates is a common topic found in many newspapers, leading to public awareness of these schemes.
Eligibility Criteria for Applicants
1. Residency Requirement: Only the permanent residents of Haryana are eligible to avail the scheme.
2. Age and Income Criteria: The applicants need to be at least 18 years old. Income levels differ according to the plot category, with certain percentages reserved for EWS (Economically Weaker Sections).
3. Previous Ownership: It is required that neither Applicant nor their families possess any residential or commercial property in the same estate so that fair allocation can be ensured.
4. No Pending Dues: Applicants should not have any outstanding dues with HSVP or any other government agency.
Registration and Application
1. Application Submission
Applications must be submitted through an online form found on the official HSVP website or at some authorised centers. In addition to the application form, the candidates must provide identity proof, address proof, and income statements as documents and also pay the required fee for registration and application submission.
2. Document Verification
Documents are verified for eligibility after being submitted along with the application. Generally, they are rejected if they are incomplete or incorrect.
3. E-Auction Registration
Holders of the candidates must get themselves registered for the e-auction process through the payment of the Earnest Money Deposit (EMD) and thus be issued their security for the participation.
The E-Auction and Bidding Process
1. Live Bidding: Plots are allocated through a transparent, live e-auction process. Bidders submit their offers online during the auction period.
2. Maximum Bidder Wins: The one who offers the highest bid gets the plot. Successful bids are confirmed via a notification of allotment, which confirms the price and payment terms.
3. Payment Structure: After the plot is allocated, the successful bidders have to pay the plot amount within the given time frame.
Post-Allotment Procedures
Letter of Allotment and Payment Structure
Once a successful allotment is made, a Letter of Allotment is given to the person who is assigned the plot. This document contains the plot terms, payment schedule, and brief descriptions of other necessary conditions. The payment plan is usually structured in a way that an initial down payment is followed by a lumpsum payment or payment in subsequent installments. Payment must be made in full as per the established schedule, ensuring timely processing and issuance of further procedural documents.
Possession and Construction Timelines
Once the payment of the first installment has been made, possession is granted. A possession certificate is handed to the person who is allocated the plot, thus giving them control over it. Building the house you desire has to be done within a specific period, that is usually 2-3 years from possession. If there is a delay in construction, the owners will be penalised with fines, and in the worst case, the allotment will be canceled.
Conveyance Deed and Registration
Once the full payment is made, a Conveyance Deed is signed, officially transferring legal ownership of the plot to the allottee. Registration of the plot is a must at the local sub-registrar’s office through which the legal title document is issued to the allottee. Thereby, the land becomes their property officially, which is a necessity for all future transactions.
Legal and Financial Aspects
- Regulatory Framework: The HUDA Plot Scheme is an initiative under the Haryana Development Authority Act, which ensures a well-planned procedure for the allotment of plots, change of ownership, and resolution of conflicts. Rights, along with legal documentation, such as the Letter of Allotment, Conveyance Deed, and Registration, are security guarantees for rightful ownership.
- Payment Terms: The allottees are obligated to follow the prescribed payment schedules. Not following the payment schedule can result in allotment being canceled. Payments are usually made in installments, and the last one is after construction.
- Land Use Restrictions: Complete conformity with the law is required in the designation and use of the land, thus assuring that the use complies with the zoning laws in force. The owners must obtain proper clearance from the competent authorities before selling or assigning the property to someone else.
Financing Options and Bank Loans
- Home Loans: Different banks provide home loans for buying HUDA plots as a way of financing the purchase. To be qualified, the applicants must have a fair income, a good credit history, and prove that they have the ability to pay the money back.
- Loan-to-Value Ratio: The usual practice is for the bank to give a loan amount of 70% – 90% of the land cost, depending on the borrower’s profile.
Resale Market for HUDA Plots
- Demand and subsequent appreciation: HUDA plots situated in the areas surrounding Gurugram and Panchkula have become very valuable over the past few years due to their increased urbanization, and the rise of the general infrastructure scenario.
- Legal Formalities for Resale: All resale deals need to be in line with HSVP rules, which entail clearing all dues and verifying the required documents.
Conclusion
HUDA’s Plot Scheme is the jewel in the crown for people wanting to obtain a piece of land in Haryana. With a wide range of plots and locations, and open, honest processes, it is the best choice for different types of applicants. Buyers and investors should always be aware of new schemes, understand the set criteria for eligibility, and correctly follow the application procedures to become the beneficiaries of this wonderful scheme.
Apoorva H P Achar