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Saturday, April 17, 2021

Major relief for arhtiyas in Haryana

40% interest waiver on outstanding amount, 100% waiver of penal interest.

By: Express News Service | Chandigarh |
April 1, 2021 9:07:23 am
Arhtiya, HaryanaProcurement of Rabi crops commences from April 1. (File)

A day before Rabi procurement season commences in the state, CM Manohar Lal Khattar has announced a major relief in outstanding payment of interest and penalties for arhtiyas. Procurement of Rabi crops commences from April 1.

Khattar announced 40 per cent interest waiver on default amount and 100 per cent waiver of penal interest for the arhtiyas.

“For those plot holders owning plots in Grain Markets and Vegetable Mandis of Haryana State Agricultural Marketing Board (HSAMB), who are unable to pay their installments on time due to any reasons, now the state government has decided to give 40 per cent interest waiver on the default amount and 100 per cent waiver on of penal interest, provided that the plot holder clears the entire balance amount by June 15, 2021,” Khattar announced.

“At present there are 2421 allottees in the defaulter list of Haryana State Agriculture Marketing Board (HSAMB) and an amount of about Rs 1,131 crore is outstanding on their part. After today’s announcement, these plot holders will get a benefit of Rs 370 crore”, Khattar said.
Announcing relief measures for industrialists, Khattar said, “Government has announced major relief in outstanding payment of interest and penalties for the industrialists owning Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC) plots. Under this settlement scheme for clearance of entire outstanding dues, more than 2,250 industrialists shall be benefitted. If the industrialists pay outstanding plot cost and enhanced cost in one go, with waiver of 25 per cent on overdue interest and 100 per cent 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 1,500 crore. The benefit that is likely to be provided is expected to be Rs 225 crore,” Khattar added.

Rationalisation of extension fee structure

“Rationalisation of extension fee structure will be implemented with effect from April, 1, 2021. For A category Estates, the 4th and 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,” Khattar said.

No extension beyond 6 years

“While giving major relief to the industrialists in outstanding extension fee, it has been decided that no extension beyond six years will be permissible and plot will be mandatorily put to auction through HSIIDC. If the allottees intend to surrender the plot, then HSIIDC will amend its refund rules upon surrender/resumption of plots/sites, to provide for a deduction of 10 per cent of plot price (earnest money). With this 50 per cent or 10 per cent of the 90 per cent balance amount paid by the allottee whichever is less would be charged from the allottee,” the CM said.

He said: “Overall, a maximum of 20 per cent amount will be taken from the allottee and rest of the amount will be refunded. If any allottee chooses the auction option along with surrendering the plot, then HSIIDC will auction the plot and after deducting its fee, the profit on the sale will be split equally. One more provision of auction has been made in which if after six years the allottee is unable to complete their projects, then an auction notice would be served to him as per the terms and conditions of the auction.”

OC process simplified

“In cases where the allottees had applied for issue of Occupation Certificate (OC) and requirements for issue of Occupation Certificate were found to be complete but OC was not issued on account of default in payments, in such case, now it has been decided that where department had conducted inspection within the period of six months from the date when the allottee had applied for OC, then the extension fee would be charged till the date of inspection. If the department conducted inspection after six months or had not conducted inspection, then in that case extension fee would be charged till the date of application of OC. This provision of OC will come into force when the applicant clears the outstanding payment,” Khattar added.

Exit route from prestigious project

Giving relief to industrialists investing in prestigious projects, Khattar announced that the date of amnesty scheme has been extended till September 30, 2021. The scheme is for allottees who have invested at least 25 per cent of the proposed fixed capital investment and started commercial production paid all dues including extension fees.

Relief for plot owners

“Relief has also been given to the new plot holders. Under this if the plot holder pays the entire amount of the plot within 60 days from the auction period, then, 10 per cent discount on the amount of the plot would be given to them,” Khattar said.

Term Lending Schemes for HSIIDC

For HSIIDC default cases in term lending, the government has been decided to waive off the penal interest on the upstanding amount (that is principal plus interest up to this date) from that date the when the account of the allottee declared NPA.

“The formula will also apply in case of loan accounts exceeding Rs 25 lakh in case of HFC. In such cases additional rebate for making lump sum payment of OTS amount shall be provided as per the time schedule of making the payment….no rebate would be given beyond 90 days. The scheme will be in place till September 30, 2021,” Khattar said.

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