Haryana Shehri Vikas Pradhikaran: Plots, Payments, and Loans

HSVP plans urban sectors in Haryana and sells residential and commercial plots in them. A plot allotted by draw follows a fixed payment schedule, and the allottee must build within 2 years of the possession offer.
 

• Payment: 10% earnest money, 15% within 30 days, and 75% in 60 days or in 6 annual instalments
• Interest: 9% a year on instalments, and 11% or 12% a year on delayed payments
• Construction: within 2 years of the possession offer, extendable up to 13 years on fees
• Transfer: up to 4 transfers before full payment, and Rs. 5,000 after the conveyance deed

• Name: HUDA became HSVP, announced on 2 June 2017

  
  

Read your allotment letter for the exact dates and the interest rate. Then ask Bajaj Finance whether it finances construction on your HSVP plot and which HSVP papers it needs.

Haryana Shehri Vikas Pradhikaran is the authority that plans urban sectors in Haryana, develops their roads and utilities, and sells plots in them. The Haryana Urban Development Authority Act, 1977 created it under the name HUDA, and its headquarters are in Panchkula.

The Haryana government announced the new name on 2 June 2017, to avoid confusion over the acronym. HSVP's own policy index records the formal notification of the name change on 6 April 2018. A plot that an old allotment letter calls a HUDA plot is an HSVP plot today.

You can apply if you are 18 years or older and a resident of Haryana, and if you do not already hold an HSVP plot. Each scheme reserves a share of plots for specified groups.
 

The reserved shares come from HSVP's residential plot page, and each scheme advertisement states its own shares. Keep your residence proof and category certificate ready before you apply.

Haryana Shehri Vikas Pradhikaran allots residential plots by a draw of lots among the applications that it receives against an advertisement. Six steps run from the advertisement to the plot.
 

1. HSVP advertises the scheme in newspapers, with the plot sizes and prices.
2. You apply and pay 10% of the plot price as earnest money.
3. HSVP conducts the draw of lots among the applications.
4. A successful applicant receives an allotment letter with the terms and the payment schedule.
5. You pay 15% within 30 days of the allotment letter.

6. You pay the balance either in a lump sum or in instalments.

   
   

If your name does not come up, you do not receive a plot. Read the scheme advertisement for the refund process before you apply.

You pay 10% at application, 15% within 30 days, and 75% either in a lump sum within 60 days or in 6 annual instalments at 9% interest. The first instalment falls due after 1 year.
 

A 24 August 2026 lender guide reports 12% per annum on delayed instalments, after a cut from 14%. HSVP's plot page is undated and shows 11%, so check the rate in your allotment letter.

You must complete construction within 2 years of the possession offer. HSVP extends the period up to 13 years on payment of fees that vary by zone and year.

You can transfer the plot up to 4 times before you pay in full. After the conveyance deed is executed, you can transfer it any number of times for an administrative charge of Rs. 5,000. A transfer to a defined family member carries the same charge.

Trade-off: instalments ease cash flow, but a plot that you have not fully paid for carries more transfer limits and more interest.

An e-auction sells plots by online bidding, and the draw sells residential plots by lot. Haryana Shehri Vikas Pradhikaran offers some commercial and institutional plots through e-auction.
 

Plot sizes, prices and conditions differ with each scheme, so read the notice for the plot that you want. Check the status of an application on the HSVP portal at hsvphry.org.in, under the plot status option.

Gurpreet Singh, 38, lives in Panchkula with a household income of Rs. 2.5 lakh a month and a CIBIL Score of 766. He wins a Rs. 60,00,000 plot in the draw and chooses 6 instalments for the balance. He pays Rs. 6,00,000 as earnest money and Rs. 9,00,000 within 30 days, which leaves Rs. 45,00,000.

Formula used: Instalment = Rs. 7,50,000 of principal + 9% × the balance outstanding at the start of the year. This assumes that interest runs on the outstanding balance, which HSVP's page does not state.

The instalments add Rs. 14,17,500 of interest, so the plot costs Rs. 74,17,500, against Rs. 60,00,000 if he pays the balance within 60 days. He pays the lump sum.

Bajaj Finance runs a legal and technical check on the plot, the allotment papers and the construction plan. Read how the checks work in the guide to legal and technical verification.

Ask Bajaj Finance whether it finances construction on your allotted plot, and which HSVP papers it needs, such as the allotment letter, the possession letter or the conveyance deed. HSVP may need to give permission before the plot is mortgaged, so ask the estate office early. For a flat in a private project, read the guide to real estate regulation in Haryana.

Approval timelines can extend where the allotment papers or the payment records need clarification, and minimum income thresholds can differ by city. Check your home loan eligibility before you apply.