Haryana Government extends settlement scheme for builders

Tribune News Service

Chandigarh, April 18

There is further relief for builders, who have been defaulting on the payment of external development charges (EDC) for several years, with the Haryana Government extending the one-time settlement scheme ‘Samadhan se vikas’ from April 15 to July 15.

Under the scheme, the builders who pay 100 per cent outstanding principal EDC amount and 25 per cent of the accumulated interest and penal interest within six months will get waiver on the rest of the 75 per cent interest.

The colonisers paying 50 per cent of the outstanding principal amount and 50 per cent interest and penal interest would get a waiver on 50 per cent interest. However, they’ll have to deposit the rest of the outstanding principal amount (50 per cent) in four six-monthly instalments with 8 per cent interest.

The builders won’t have to pay any penalty in case of default of instalments within the prescribed period of two years for deposit of instalments.