With April To May Declared Zero Period Haryana Real Estate Can Take A Sigh Of Relief

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 time-bound 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.

(Source: Hindustan Times)