Hry CM announces 100% waiver of penal interest on industrial plots

Chandigarh: Haryana Government's unique initiative of 'Vivaadon Ka Samadhan' on Friday turned into Holi bonanza for industrialists owning Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC) plots as the Chief Minister Manohar Lal while presiding over a meeting with Industrialists held late evening announced major relief in outstanding payment of interest and penalties. During the meeting, Deputy CM Dushyant Chautala and Minister of State for Labour and Employment Department Anoop Dhanak were also present.

The Chief Minister announced that the State Government has decided to introduce a settlement scheme for clearance of entire outstanding dues, which will benefit more than 2250 industrialists.

As per the announcement, if the industrialists pay outstanding plot cost and enhanced cost in one go, with waiver of 25 percent on overdue interest and 100 percent waiver of penal interest and by freezing the interest liability up to March 31, 2021, provided the entire balance amount is paid by June 30, 2021. There is an outstanding amount of approximately Rs. 1500 crore. The benefit that is likely to be provided is expected to be Rs 225 crore, informed the CM.

He also announced rationalization of Extension fee structure with effect from April, 1, 2021. As per the announcement, the period for completion of the project beyond the initial period of three years would be deemed extended for a further period of three years on payment of rationalised extension fee, to be decided by Board of Directors of HSIIDC, for three categories of Estates i.e. A, B and C. He hinted that for A category Estates, the 4th& 5th year extension fee would be Rs.50 per sq. meter, for B category Estates it will be Rs. 25 per sq. meter and for category C, it will be Rs.10 per sq. meter.

The CM further informed that presently an amount of approx. Rs.636 crore is outstanding because of extension fees from approximately 330 allottees.

He announced that it has now been decided that HSIIDC shall waive 50 percent of the outstanding amount because of extension fee. Upon clearance of default because of extension fees as on March 31, 2021, the allottees shall be entitled to further extension on payment of the applicable fees as per revised norms. For existing allottees where the extension is beyond 6 years, the allottee can avail an additional year for completion of project at the extension fee for 5 years and will then be covered under the new extension policy.

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