The Haryana government has announced a 20% increase in EDC (External Development Charges) for 2025, with an additional 10% hike every subsequent year. EDC is a fee levied on real estate developers to fund the construction of essential infrastructure facil
HaryanaReal EstateEdcInfrastructureProperty MarketReal Estate NewsDec 30, 2024
EDC stands for External Development Charges, which is a fee collected from real estate developers to fund the construction of essential infrastructure facilities outside the boundaries of their projects, such as roads, water supply systems, and sewage lines. This fee is important as it helps in the development of necessary infrastructure that supports the overall growth and sustainability of urban areas.
The Haryana government has announced a 20% increase in EDC for 2025, with an additional 10% increase every subsequent year.
The increase in EDC could lead to higher property prices as developers may pass on the additional costs to homebuyers. It could also make it more difficult for first-time buyers and low-income families to afford homes. However, the additional funds from EDC can be used to improve infrastructure, which can attract more investment and development in the region.
HARERA is a regulatory body established to protect the interests of homebuyers and promote a fair and transparent real estate market in Haryana. It ensures that all real estate projects comply with the Real Estate (Regulation and Development) Act, 2016 and adhere to the highest standards of quality and transparency.
The government can ensure the effective use of increased EDC through transparent communication and stakeholder engagement. Regular audits and performance reviews can also help in tracking the use of funds and ensuring that they are utilized for the intended infrastructure development projects.
Uno Minda's market cap surges past ₹58,000 crore as shares reach a record high of ₹1,025 apiece on the National Stock Exchange.
A real estate dispute turned deadly in Hassan, claiming the lives of two friends, Asif and Sharafat Ali, who were business partners in the ginger and real estate industry.
Learn how Ryan Serhant, a top real estate agent, manages his time effectively to achieve success in the competitive industry.
Realty major DLF is set to launch India’s most expensive residential project in Gurugram, aiming to capitalize on the strong demand for premium homes.
DEHRADUN: The Enforcement Directorate (ED) and the Income Tax Department conducted surprise raids on the properties of Rajeev Jain, a real estate magnate and former aide of Congress leader Harish Rawat, in a major crackdown.
The demand for ultra-luxury properties has been robust in 2024, with significant transactions taking place in both Mumbai and Delhi-NCR. However, did Delhi-NCR manage to outshine Mumbai in this segment?