Housing Dept plans one-time settlement scheme for IT firms
The state government is coming up with a one-time settlement scheme for information technology (IT) companies that have defaulted on the terms and conditions of allotment of land.
Mostly located in Mohali, 78 companies face cancellation of allotment over default in payment of instalments or violation of the terms and conditions regarding the construction schedule or generating employment. In over 30 cases, allottees have not started the construction work, sources said.
The OTS issue will come up for discussion in the next Cabinet meeting. Promoters of the information technology-enabled services (ITES) companies have been crying foul over “non-cooperation” at the hands of government agencies. “Fifty-four companies in Mohali, which have completed the construction work, are not being given completion certificates,” said an entrepreneur.
The Housing Department is eyeing around Rs 2,000 crore revenue by offering the amnesty scheme to defaulting allottees of residential, commercial and institutional properties in urban estates.
“For the allottees, who have defaulted on the payment of instalments, the government proposes to waive 6 per cent penal interest, subject to the payment of pending instalments with 12 per cent interest as per norms,” said the official.
“The step will help boost the ITES sector. These companies aim to generate an investment of around Rs 6,000 crore besides producing employment avenues for 50,000 to 75,000 persons in the next two years in Mohali,” said Jatin Gandhi, vice-president of the IT Companies Association.
