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Published on 7/07/2020 11:30:26 AM | Source: IANS

Haryana grants incentives to realtors

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To revive the real estate industry in Haryana, the Cabinet on Monday granted a moratorium on compliances and interest payments for seven months from March 1 for all existing projects of change of land use (CLU) as per permissions and licenses.

The moratorium period till September 30 will be considered as zero period, a government statement said.

The Cabinet, chaired by Chief Minister Manohar Lal Khattar, granted the permission for payment cases for which moratorium would be allowed include the letter of intent for the CLU, licence renewal, CLU extension, payment of fee and charges, bank guarantee and deed of declaration as per the Haryana Apartment Ownership Act of 1983.

The Cabinet gave approval to bring an ordinance to amend the Industrial Disputes Act of 1947, for empowering the state government to grant exemption from certain provisions of the Act for a period of 1,000 days to a new establishment or undertaking or any class of new establishments.

The draft of the Industrial Disputes (Haryana Amendment) Ordinance of 2020 will be brought before the Council of Ministers at its the next meeting.

It will help to increase investment and provide employment opportunities to the workforce.

It also gave approval for implementing a policy for the establishment of retail outlets of CNG and PNG stations and petrol pumps.

Under the policy, a single window platform will be provided for setting up the retail outlets whether for the purposes of allotment of government land through a transparent e-auction mechanism or for purposes of grant of CLUs in case of retail outlets proposed in private lands.