Life in Gurgaon

Haryana Shahari Vikas Pradhikaran increases extension fees period to 15 years

Source : https://www.hindustantimes.com

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In a major relief to owners of plots in sectors developed by Haryana Shahari Vikas Pradhikaran (HSVP), the urban authority extended the time period for the payment of extension fees for construction of houses to 15 years. Prior to this decision, the owners had to pay double the fees after a 12-year standard extension fee period. This will benefit the buyers in sectors which have been marked out over the past 12 years, officials said.

The HSVP launched sectors 43 to 57 in Gurugram in this period.

“This matter was discussed in the recent meeting in Chandigarh and was accorded approval. It is a very buyer-friendly move and will help a large number of plot buyers,” Chander Shekhar Khare, HSVP, administrator, Gurugram, said.

As per HSVP rules, an allottee has to construct a house on a plot within two years of allotment and obtain an occupancy certificate. If the plot is not built upon, the buyer has to pay an extension fee to the HSVP every year, and this fee has to be paid for 12 years. The fee increases incrementally each year. But after the 12-year period, the fee to be paid would be doubled every subsequent year, as per the previous policy.

However, the new policy increases the period for which the extension fees can be paid to 15 years.

The authority has created a new slab for the delay in construction for the 13th, 14th and 15th years, under which an owner has to pay ₹30 per square metre for plots less than 100sqm. For larger plots, the rate is ₹150/sqm. In case the construction is not done even after 15 years, the rule to double the extension fee will kick in as earlier, officials said.

For commercial sites up to two storey high, the extension fee rates shall be double the rates for residential plots.