Outdated workplace offered off, industrial company HSIIDC to shift to Udyog Minar

GURUGRAM: The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) is planning to move to Udyog Minar, a few metres from its current Udyog Vihar 5 office that has already been sold off as part of a land auction deal with real estate major DLF. “The office has been sold as part of the land auctioned to and consequently, the office will be moved to Udyog Minar,” confirmed an official.
Sources in the corporation said the deal could have been finalised without the HSIIDC office too, but it was incorporated in the land parcel sold apparently to “give the developer more visibility and access from the national highway”. There are also talks going on to auction off Udyog Minar in order to generate more revenues for the cash-strapped corporation, they claimed. However, HSIIDC officials rejected the claims and said as of now HSIIDC was moving to Udyog Minar and would function from there.

Real estate major DLF snapped up an 11.67-acre commercial plot in Udyog Vihar, located opposite in Gurugram, for a record Rs 1,496 crore. The price was the highest any government agency in Haryana received through an auction, and was more than double the reserve price set for it.

Since the area has been notified for transit-oriented development (TOD) that allows higher floor area ratio (FAR) — which, in simple terms, means more floors and a bigger built-up area than what is usually permitted — DLF will have to pay an additional Rs 143 crore as statutory TOD charges, in addition to Rs 104 crore as registration fee to the revenue department.

Some industrials have alleged that the land has been sold at a price lower than the market rate. “Just across the highway, land is being sold at Rs 140 crore per acre. So, the price of 11.67 acres would have come to around Rs 1,600 crore,” claimed , an industrialist and RTI activist.

HSIIDC has lined up multiple properties for auction, hoping to generate more revenues to meet its liabilities.

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