Realty Industry Gets Moratorium From Haryana Till 30th September
The Haryana Govt. has been kind and
considerate enough to grant moratorium to the realty industry till 30th
September. The moratorium has been granted on compliances and interest payments
for a period of seven months till 30th September for all the existing projects.
An official statement after the cabinet meeting said this applies that the
‘zero period’ will last from March 1 to September 30.
As per the Haryana Apartment Ownership Act.
1983, the payment or permission cases for which the moratorium has been allowed
are Licence and CLU (Change of Land Use) validity, Letter of Intent for CLU and
licence cases, payment of fees and charges, licence renewal and CLU extensions,
and Bank guarantee and deed declaration.
The Council of Minister shall help the industries
to adapt to the new economic realities and rise in a smooth manner for which
Industrial Disputes (Haryana Amendment) Ordinance 2020 draft is planned to be
brought before the Council. To help new businesses get their business back on
track for the newly established or new undertaking or class of new
establishments, the govt. is keen to provide concessions for the next 1000
days. This will be done by relaxing certain provisions of the labour laws to
increase the investment and provide employment opportunities to the workers.
To enable the recovery of long term payment
dues on account of External Development Charges., the Haryana Cabinet has
approved this one-time settlement scheme called ‘Samadhan se Vikas’ which is
based on the Central scheme of ‘Vivad se Vishwas-2020’. Coming from the Chief
Minister who holds a finance background, the scheme was announced in the state
budget 2020-21. 75% of the accumulated interest and penal interest shall be
waived if the colonizer deposits 100% of the principal amount that is
outstanding on account of EDC and interest and penal interest.
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