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Nexus between State of Haryana and Builders for Enhanced EDC

Postby dheerajjain » Sat Jul 13, 2013 11:03 pm

http://articles.timesofindia.indiatimes ... p-builders

Article clearly shows Nexus between State of Haryana and Builders for Enhanced EDC. Builders have been given 3 years to pay enhanced EDC (6 half yearly installments). It benefits the builders and leads to added burden on home buyers (since they have to bear brunt of interest of 15% for 3 years, builders pass all interest to buyers), hence increasing enhanced EDC load by 45%. It also shows State has no regard for High Court Order which has stayed payment of enhanced EDC

GURGAON: The Department of Town and Country Planning (DTCP) has revised the payment norms for enhanced EDC in Haryana which will benefit the builders who are reeling under real estate slowdown.

In a recently held meeting with the top brass in Chandigarh, the builders had said that they were facing difficulties in depositing outstanding dues on account of EDC and enhanced EDC due to slow market conditions. The builders, mainly those having projects in Gurgaon, had argued that enhanced EDC payment schedule should be revised due to downswing of the market conditions.

The enhanced EDC runs into crores, which is to be paid by the builders all over Haryana. A real estate industry insider said: "The revision will de-stress builders since, now they don't need to pay in short duration and have breathing space, though they will pay interest as per the agreed norms."

During the meeting, DTCP officials said, it was decided that the period of one year as provided in the policy dated April 12, 2012 for payment of outstanding EDC by submitting bank guarantees may be extended to two years

The official said the request was accepted and it was decided that this extended period will also be applicable to the renewals already granted under policy dated April 12, 2012. The colonizer shall deposit bank guarantee to the tune of 25% of the total outstanding amount (including overdue and not yet due installments) at the time of request for consideration under this policy. Bank guarantees already deposited shall be adjusted.

At present, the enhanced EDC is being charged in four half-yearly installments, but now it was decided to recover enhanced EDC in six half-yearly installments. The cases for grant of licenses for additional area adjoining the already licensed land and approval of building plans shall be processed on merits after observing the performance of the colonizers regarding payment of outstanding dues of the main licence.

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Re: Nexus between State of Haryana and Builders for Enhanced EDC

Postby naveenarichwal » Sun Jul 14, 2013 11:34 am

Government come to power after promising to work for the benefit of People who have chosen it, but the govt. is always seen to be working for the benefit of Corporate , even at the detriment of the people that have chosen them, this is evident from the , inflation, Petrol,diesel price hike, EDC concessions to the builders, overlooking the illegalities and Harassment that these corporates cause to the common man.

This is the Democracy which we are proud off. Are these fit to be called Leaders.They form the Leadership of the MAFIA that is always busy to exploit common man, in one form or the other. This is worst than the british rule that was there before 1947, But the greatest harm is done by the middle class, which does not come out and vote, saying that all are alike.

The netaji is very much sympathatic to these chor Builder lobby, because it is this lobby that keeps the netaji afloat.
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