Dear all,

HUDA has announced new schemes for Karnal and Pinjore. The scheme for Karnal is for developed sectors 32/33. The secondary market rate appears to be between Rs 25,000 - 30,000 sq yard while the scheme price is around Rs 14 - 15 K. Couldn't find much secondary market details for the Pinjore Scheme. Just wanted your help on the potential of these two schemes. Is the Pinjore project over-priced?
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  • Hey guys,
    Does HUDA give preference in allotment to people from Haryana?
    Or people from other states have equal chance?

    I know officially they claim that everybody has equal chance.
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  • everybody has a equal change...from Haryana or not...Date extension is on their website
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  • Originally Posted by anoop.garg
    I checked directly with HUDA and get to know there is no need to sign it across.

    However, it will be verified later on if you got lucky with draw.


    Thanks for replying. I think HUDA extends date to earn interest income, otherwise he (it) can make draw among the people who have applied upto that date. It is not (never) possible that it would have got less number of applications than the number of plots.
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  • Hi

    Originally Posted by ASHMIG59
    Thanks for replying. I think HUDA extends date to earn interest income, otherwise he (it) can make draw among the people who have applied upto that date. It is not (never) possible that it would have got less number of applications than the number of plots.

    Yes you are right , with 6 month of interest they can are developing one sector
    so they extend date for next sector development with bank interest only
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  • Guys when draw will be conducted ?
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  • Originally Posted by definite
    Guys when draw will be conducted ?

    Let them close the application process without extending again.It may take 4-5 months after the closing date which will give them maxium interest on our security money which is in crores of Rs
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  • Generally they do approx. 6 months from the date of closing of the scheme.
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  • Which size will be more in demand in Pinjore plots. Will they appricate in future?
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  • Usually small to medium sized plots are more in demand as they are easy to sell......also the number of plots drive the subscription...more the number of plots, more people apply for them.....

    Regarding appreciation, everybody expects prices to appreciate...but nobody can say it will happen or not and if it happens by when....
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  • Every government and government owned bodies boast of transparency in their working and advise private bodies to have transparency in their working. Would huda authority give reasons for which the date of applying karnal/pinjore plots have been extended.
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  • Guys, I did some calculation on the number of applications they get along with earnest money. I assumed a moderate number of application as 3 lakh and modest average earnest money of 2 lakh each. When you calculate the total money they will get, it comes to staggering numbers: 2,00,000 * 3,00,000 = 6000,00,00,000 wow this is 6000 crores. if interest is assumed at modest 9% given by most of the banks it comes to interest earning of Rs. 45 crores per month and this will be 270 crores for 6 month. Now this is the reason for extending the timelines my dear friends.
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  • Is it legally ok? Can't we file RTI or anything to stop this process followed by HUDA. What is the guarantee that HUDA won't do such acts again if the starting is on bad note !!
    Originally Posted by mychandigarh
    Guys, I did some calculation on the number of applications they get along with earnest money. I assumed a moderate number of application as 3 lakh and modest average earnest money of 2 lakh each. When you calculate the total money they will get, it comes to staggering numbers: 2,00,000 * 3,00,000 = 6000,00,00,000 wow this is 6000 crores. if interest is assumed at modest 9% given by most of the banks it comes to interest earning of Rs. 45 crores per month and this will be 270 crores for 6 month. Now this is the reason for extending the timelines my dear friends.
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  • Originally Posted by nitinsarna
    Is it legally ok? Can't we file RTI or anything to stop this process followed by HUDA. What is the guarantee that HUDA won't do such acts again if the starting is on bad note !!


    HUDA needs to be snubbed.Take legal action by demanding one month interest on earnest money due to last date extension. RTI can not stop it.
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  • Originally Posted by nitinsarna
    Is it legally ok? Can't we file RTI or anything to stop this process followed by HUDA. What is the guarantee that HUDA won't do such acts again if the starting is on bad note !!


    I think we need to be rational in our approach. What do you propose to ask in the RTI and when you want to stop this process, what alternative do you propose?
    Do you propose that HUDA should not ask for earnest money, suppose HUDA does so, can you even imagine the number of applications they will have.
    Or do you propose that HUDA should not earn interest on this money and let their bankers enjoy the interest.
    In my opinion the most viable option is to reduce the time lag between closing of applications and draw result. AFAIK NOIDA authority does it in less than two months then why does HUDA need six months to do it.
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  • Originally Posted by Krazy Yuppie
    HUDA needs to be snubbed.Take legal action by demanding one month interest on earnest money due to last date extension. RTI can not stop it.


    When you deposit the cheque with application, is it so that the cheque is debited immediately or the cheque gets debited only once the scheme closes.
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