Haryana Moratorium till Sept 30 for All Projects

Haryana Moratorium till Sept 30 for All Projects
Jul 2020 , by , in Latest News, News/Views

The Haryana government on Monday decided to grant moratorium to the realty industry on compliances and interest payments for seven months to September 30 for all existing projects. Moratorium period shall imply that such intervening period from March 1, to September 30, will be considered as “zero period”.

The permission or payment cases for which moratorium will be allowed include Letter of Intent for CLU (Change of Land Use) as well as licence cases, licence and CLU validity, license renewal and CLU extension, payment of fee and charges, bank guarantee and deed of declaration as per Haryana Apartment Ownership Act, 1983. In another decision, the state cabinet also gave approval to bring Ordinances to amend the Industrial Disputes Act, 1947 and the Factories Act, 1948 to empower the Haryana government to grant exemption from certain provisions of the Acts for a period of 1000 days to a new establishment or undertaking or any class of new establishments.

The State Government is keen to provide concessions to the new establishment or new undertaking or class of new establishments for next 1,000 days to help them get their business on track by relaxing certain provisions of the labour laws for the purpose of increasing investment and providing employment opportunities to the workers in today’s competitive era.

The Haryana Cabinet also gave approval for one-time settlement scheme to enable recovery of long pending dues on account of External Development Charges (EDC) called “Samadhan se Vikas”. It is modeled on the Central scheme of “Vivad se Vishwas-2020”.

About Realty Plus