Haryana government allows builders up to 2 more years to finish projects

Pradeep Sharma

Tribune News Service

Chandigarh, September 4

The state government has allowed builders up to two more years to complete their residential and commercial projects, considering the economic downturn in the realty sector due to the Covid-19 pandemic.

With new rules, the Punjab Scheduled Roads and Controlled Area Restriction of Unregulated Development (Haryana Amendment) Rules 2020, coming into force, the change of land use (CLU) permission can now be extended up to two years.

In the notification, AK Singh, Principal Secretary, Town and Country Planning (TCP), has stated that now, the builders executing projects on land measuring up to 25 acres (for permission granted other than multi-storeyed buildings) will get three years — earlier it was two years.

Similarly, for projects measuring up to 25 acres (for multi-storeyed buildings), the colonizers can take four years against current three years “for putting the land to permitted use”. However, the deadline for the projects on above 25 acres will be five years.

Besides, the government will have the discretion to extend the permission by another year “if it is satisfied that the delay in the execution of works is beyond the control of the applicant”.

However, these renewals will come at a price. While 10 per cent conversion charges will be levied on the first-year extension, the second-year extension will attract conversion charges at the rate of 15 per cent.