By Accommodation Times Bureau
Chandigarh: On this Thursday, the Haryana Urban Development Authority (HUDA) has finalized the policy for grant of extension in time for construction on Institutional sites and grant of extension fee.
According to the present policy for sites for social, charitable trust, religious institutions, and philanthropic institutions. However, the construction work is to be completed within the time frame of two years since the date of offer of possession.
Whereas, three years extension was permissible for completing the construction work, now the period for construction work has been extended to seven years from the date of possession.
According to the new extension fee system in the first year per square meter have been increased to Rs.10 from Rs.5 for social and religious institutions located in the high potential zone, for second year from Rs eight to Rs 15, for third year from Rs 10 to Rs 20, for fourth year and fifth year it has been increased to Rs 25 and Rs 30 respectively.
On the other hand, if allottee unable to complete the construction within the 10years then the case of further extension in the time frame of teo years.