After big DLF deal, corporation lists hotel site for sale

GURUGRAM: The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) is planning to auction a premium plot off NH-8 in Sector 16, hoping to clinch another big-ticket deal after selling 11.76 acres for a whopping Rs 1,496 crore to real estate major DLF recently.
Barely 6km from the commercial plot bagged by DLF at Vanijya Nikunj in Udyog Vihar 5, the site to go under the hammer currently houses Japanese Hotel and is located across the expressway from Signature Towers.

Sources said the hotel site, measuring around 4.5 acres, was one of the many plots in the list that the cash-strapped HSIIDC was planning to put on the block to raise funds for meeting its liabilities.

Apart from Japanese Hotel plot, the corporation is also looking to auction similar sites in Manesar, Faridabad and Bahadurgarh and various industrial townships across the state.

“We are in the process of selling multiple commercial and industrial plots across the state and the hotel site off the NH-8 is one of them. We will soon launch an auction notice, spelling out all the details,” said an HSIIDC official.

Though the corporation is yet to come out with the other specifications, the sources said it would be an e-auction, like the earlier ones, wherein interested bidders could bid online following a pre-bid meeting with HSIIDC officials.

The HSIIDC official admitted that they were really enthused about the real estate market scenario in the city, especially after the huge response they received for the recently sold premium plot in Udyog Vihar 5.

The corporation is also planning to auction around 100 acres from a land pool allocated for Global City Village in Harsaru, Gurugram.

The industrial corporation has already floated a notice, inviting bids for 20 acres from the land pool, but is yet to receive any bid.

Sources said the lack of interest was primarily because of an ongoing controversy over the land. However, with the Punjab and Haryana high court quashing a petition by land owners opposing the auction, HSIIDC officials are expecting better deals on the said land.