HUDA reduces rate of penal interest to 8%

By Accommodation Times Bureau

In yet another revolutionary step that will solve the long-standing vexed problem of enhancement dues in HUDA sectors, Haryana Chief Minister, Manohar Lal has decided not only to reduce from 15 percent to 8 percent the interest charged on the Less Conveyed enhancement amounts  per annum but also prescribed that under no circumstances the total interest on the subject less conveyed amount will be allowed to exceed the principal amount.

While stating this here on October 23, a official of HUDA said that this decision alone is likely to result in the benefit of over Rs 400 crores for allottees of alteast 26 different sectors in different Urban Estates of the State.

He said that State Government has already accepted 14 out of total 17 demands raised by All Haryana Sector Enhancement Sangharash Samiti and the Haryana State HUDA Sectors Confederation. With the two decisions taken today the only remaining issue is before a committee comprising three  former Judges of the Honble High court. These included Justice Pritam Pal, Justice Dr Bharat Bhushan Parsoon and Justice Raj Rahul Garg.

He said that a meeting was held under the Chairmanship of Principal Secretary to Chief Minister Rajesh Khullar on August 14, 2018, with All Haryana Sector Enhancement Sangharash Samiti and the Haryana State HUDA Sectors Confederation in which most of their demands had been accepted. It was agreed that if the enhancement awarded to the farmer or land owner in lieu of acquisition of his land, is increased or decreased by the Court at a later stage, the redetermination of additional price would be done accordingly and the difference would be demanded or refunded as the case may be. The burden of un-acquired land would not be offloaded on sector allottees.

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