Settlement scheme for Haryana builders extended

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Chandigarh, March 11

The Haryana Government has extended till August 15 the one-time settlement scheme ‘Samadhan se Vikas’ for builders defaulting on the payment of dues.

A government order said the scheme had been extended to enable recovery of long pending dues on account of the external development charges (EDC) and change of land use (CLU) for the real estate projects.

As part of the scheme, the defaulters paying 100 per cent outstanding principal EDC amount and 25 per cent of the accumulated interest and penal interest within six months are entitled to a waiver on the rest of the 75 per cent interest.

Similarly, the defaulter builders paying 50 per cent of the outstanding principal amount and 50 per cent interest and penal interest will get a waiver on 50 per cent interest. However, they’ll have to deposit the rest of the outstanding principal amount (50 per cent) through four six-monthly instalments with 8 per cent interest.

However, if any amount of the balance 50 per cent principal amount and interest is not deposited within two years, the coloniser would lose all benefits under the policy and the original schedule of the EDC payment would be restored, the order stated.