Now, builders can pay their development charges in parts
Tribune News Service
Chandigarh, September 24
In a relief to colonisers, the government has allowed builders to deposit the external development charges (EDC) and infrastructural development charges (IDC) through instalments.
Under the new policy apparently approved in view of the ongoing recession in the realty sector, the colonisers have been allowed to make 20 per cent down payment of the outstanding EDC and IDC.
The balance amount can be paid in eight half-yearly instalments along with the interest, an order issued by Apoorva Kumar Singh, Principal Secretary, Town and Country Planning Department, said.
In case, the coloniser wants to pay 15 per cent of the outstanding EDC/IDC amount, he will be given the option of payment of the balance amount in five half-yearly instalments.
The order said the colonisers paying 10 per cent down payment of the outstanding EDC/IDC amount could pay the amount in four half-yearly instalments along with applicable interest.
A highlight of the new policy will be that the coloniser can avail of the benefit of the “rescheduling” of the EDC/IDC without mentioning any specific purpose.
“The no-occupation certificate beyond 90 per cent of the permitted floor area ratio (FAR) for group housing/commercial/cyber park shall be considered without clearance of the entire EDC/IDC,” the order said.
Now, no completion/ part completion certificate will also be considered without clearance of the entire EDC/IDC dues of theconcerned licence.
Policy highlights
- Now, colonisers can pay 20/15/10% EDC/IDC
- Balance EDC/IDC can be paid in eight, five, four half-yearly instalments
- No specific reasons required for availing benefits of new policy
- No-occupation certificate can be considered without payment of the total outstanding EDC/IDC
