By Accommodation Times News Service
Developers seem to be having a major relief to the developers and builders of Punjab and Haryana Court has ordered a stay on collection of External Development Charges (EDC) imposed by the Haryana government on private builders. It will be impact huge in NCR which contributes about 51% of the total revenue collected as EDC across state. The region has acres of land under private development. The stay order is being viewed as a setback for the state government which had revised its EDC policy for urban areas in August 2011. While hearing a plea challenging the new EDC norm the court has set the next date of he hearing on April 10. The Director of the Town and Country Planning Department had to been revised and fix the EDC some time back and it took out without following the proper procedure. If analyst to be believed the stay order would also cause huge loss to the state exchequer in terms of compound interest on the EDC amount pending on various developers. The government officials however refused to comment on the matter.
As per the Haryana Development and Regulation of Urban Areas Act 1975, the developers are required to pay EDC for availing civic amenities.