Complete Guide on How to Buy Auction Plots at Hisar – Step by Step Instructions

Are you looking to purchase a plot in Hisar via auction? You can get good deals on a plot at an auction, whether you are looking to buy it for your own home or as an investment. Auction plots in Hisar and Haryana are offered by the government, banks, municipal authorities and development authorities. This article will explain the entire process in a simple step-by-step format, so that you understand exactly how to participate.

What is an auction plot?

auction plot refers to a parcel of land offered for public sale. In lieu of buying directly from the seller, buyers can place competitive bids. The highest bidder wins the plot, and usually buys it for that price. Auctions are organized by:

• Government authorities
• Development agencies (like HSVP)
• Banks (under SARFAESI, or recovery auctions
• Local municipal bodies

Different types of auction plots in Hisar

You can find auction plots primarily in two ways:

1. Government / Development Authority Auctions

Online auctions are held for plots that have been released by government agencies such as Haryana Shehri Vikas Pradhikaran or other authorities. They include residential, institutional, and commercial plots.

2. Auctions by Banks / SARFAESI

Banks sell pledged property at auction when owners do not repay their loans. These auctions usually include residential and commercial properties.

How to get auction plots in Hisar

Here’s a step-by-step guide to help you win an auction plot.

1. Find auction listings

You must first be aware of any upcoming or live auctions. Check out government eAuction portals, local announcements and bank auctions.

2. Understanding Plot Details

Be sure to read the following before you bid:

• Location and size of plot
• Property Type (residential/commercial)
• Title status and legal approvals
• The plot has no disputes

By checking these, you can avoid future problems.

3. Register for the Auction

Every auction has an registration that includes:

• Create an account in the auction portal
• Entering basic personal details
• Uploading Identity Documents

4. Earnest Money Deposits (EMD)

You must pay Earnest Money deposit (EMD) to bid at any auction. This shows that you are serious.

• For government/development auctions, EMD amounts are usually specified per plot.
• EMD for bank auctions is usually a percentage of reserve price.

The EMD must be submitted before the deadline, which is usually one day prior to the auction.

5. Attend the auction and place bids

The auction date is:

• Login to the portal for online auctions
• Choose the plot that you desire
• Bid above the Reserve Price
• Bidders must compete until the auction closes

6. Auctions: How to Win the Auction

You will be the winning bidder if your bid is the most high at the end.

Then:

• The auctioning authority will confirm your bid.
• You will usually be required to pay part of the total amount (often 25 percent or according to auction terms).
• The balance will be paid within the specified timeframe

7. Complete documentation and registration

After full payment:

• You will receive a confirmation of auction or letter of sale allocation from the authority.
• The property is then registered in your name with the local subregistrar office
• Stamp duty and registration fees are payable

The property is now legally yours.

Tips to a Successful Auction Purchase

You should read the terms and conditions carefully. Each auction has its own rules and deadlines.

Common Rules That You Must Know

The majority of urban land, including plots, is sold at open public auctions. This means that anyone (except minors), can participate following EMD payment.

In the case of bank or development auctions plots are usually sold “as is, where is”, meaning you accept them as they are.

You may be required to pay a part of the auction price on the spot, and the remainder within a specified period.

Conclusion

It is possible to purchase land in Hisar at a lower price than the market rate by participating in Hisar plot auctions. The main steps are:

1. Find official auction notices
2. Pay EMD online by registering online
3. Attend the auction with a smart bid
4. Registration and payment

You can buy auction lots in Hisar to build your home or as an investment if you follow the steps carefully.