HARYANA GIVES RELIEF FOR REAL ESTATE SECTOR

In view of Covid, real estate developers granted relief of interest on pending dues and for various compliances

The Haryana cabinet on Tuesday granted relief to real estate sector including entrepreneurs having change of land-use permissions, due to two-month disruptions caused by the second wave of Covid-19. An official spokesperson said the period from April to May 31 will be considered as zero period for the purposes of interest on payment of renewal fee of licence on delayed period.

CHANDIGARH: The Haryana cabinet on Tuesday granted relief to real estate sector including entrepreneurs having change of land-use (CLU) permissions, due to two-month disruptions caused by the second wave of Covid-19.

An official spokesperson said the period from April to May 31 will be considered as zero period for the purposes of interest on payment of renewal fee of licence on delayed period, submission of fresh bank guarantee on account of grant of license and interest/penal interest on payment of instalment of external development works (EDC), state infrastructure development charges (SIDC) during this period, letter of intent/permissions/building plan approval/ extension of CLU permission and licences and renewal of licenses, and related compliances.

This is in line with the relief measures granted by the Union government for economy.

The spokesperson said real estate developers have been granted relief of interest on pending dues and for timebound compliances.

Developers will pass on the corresponding benefits to their allottees to ensure that the hardships faced by end-users also get mitigated to that extent.

Extension to one-time settlement policy

The Haryana cabinet gave ex-post facto approval for extension of one-time settlement policy ‘Samadhan Se Vikas’ till September 30 and for extension of the benefit of the policy to CLU permissions.

An official spokesperson said OTS commenced on August 10, 2020, for six months to enable recovery of long-time outstanding EDC dues in license cases. The same was extended from time-to-time because of the pandemic. Till date, around Rs. 551 crore was recovered from real estate developers under this policy. The said extension of the policy has been made applicable in case of change of land use permissions also.

HPSC members reduced to five

The Haryana cabinet on Tuesday approved reduction in the number of members of the Haryana Public Service Commission from eight to five. The five members will be in addition to the chairman of the commission. The reduction was done by approving an amendment in the Haryana Public Service Commission (Conditions of Service) Regulations, 2018.

GOVT WANTS DEVELOPERS TO PASS ON BENEFITS TO ALLOTTEES TO ENSURE THAT THE HARDSHIPS FACED BY THEM ALSO GET MITIGATED TO THAT EXTENT