Haryana RERA recovers Rs 1,170 crore as EDC from realtors

Haryana RERA recovers Rs 1,170 crore as EDC from realtors
20/11/2017 , by , in News/Views

The interim Haryana Real Estate Regulatory Authority (H-Rera) has recovered Rs 1,170 crore in external development charges (EDC) from developers across the state in just three months, from August to October this year.

According to officials, the amount has been recovered from developers who had not paid the mandatory EDC for their real estate projects in the state but had to do so to get their new projects registered under the new real estate law. EDC is collected by the government for infrastructure development.

H-RERA cannot directly claim EDC but it is issuing letters to developers through the department of town and country, saying registrations won’t happen unless EDC dues were cleared. The government had been issuing letters repeatedly to developers, asking them to pay EDC. Realtors owe the state government Rs 18,563 crore in the form of EDC. Of this, the realization of Rs 4,322 crore is under doubt because of legal challenges.

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