Housing Department extends date for payment of dues - ECAS Punjab

Housing Department extends date for payment of dues

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Tribune News Service

Chandigarh, November 22

In the wake of Covid-19 pandemic, the Punjab Housing and Urban Development Department has given relaxation in the recovery of outstanding dues of around Rs 900 crore.

The deadline has deferred the payment of outstanding dues till December 2020, subject to payment of interest at the rate of 13 per cent per annum, for the deferred period.

Earlier, the department had rescheduled the second instalment of the pending dues till September 30, 2020, through orders issued on November 28, 2019. Now, the deadline has been extended till December 31, 2020.

The validity of the post-dated cheques deposited against their pending dues has been extended till December 31 subject to deposit of separate post-dated cheques of the interest component chargeable as per the extension waiver.

In July last year, the department notified an open-ended moratorium policy for developers to clear their outstanding dues in easy instalments.

from The Tribune https://ift.tt/3fmHVZn

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