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Haryana FM agrees to fix limit of VAT to 1% in Real Estate

In a recently held NAREDCO 13th Nation Convention at New Delhi, Captain Abhimanyu the Finance Minister of Haryana has agreed to fix the limit of VAT to 1% in Real Estate in Haryana and this government’s decision is welcome and appreciated by NAREDCO.

NAREDCO (National Real Estate Development Council), the apex national body for the Real Estate Industry which works under the aegis of Ministry of Housing & Urban Poverty Alleviation.
President NAREDCO Parveen Jain said that as far as VAT in Real estate in Haryana is concerned, NAREDCO had requested the government to kindly look into the matter of past and present scenarios to understand the grievances, problems and uphill tasks faced by the end-users and developers regarding this aspect. Being a real estate body we welcome the move of Haryana Government.

This decision of fixing 1% VAT has put to rest all the speculations, uncertainty prevailing earlier and all the pending litigations, cases shall be abolished. The chaos and uphill task being faced by the builders and end-users regarding this aspect shall hopefully come to a halt by this decision and also it shall generate more government revenue. So now it is a sign of relief after the announcement of fixing the VAT rate as 1%.

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Cloverleaf to connect SPR, NPR, e-way

The National Highways Authority has chalked out a plan to create a clover-leaf on the Gurgaon-Jaipur Expressway, near Kherki Daula, which will connect the Southern Peripheral Road and the Central Peripheral Road with the expressway.

The cloverleaf, estimated to cost around Rs 173 crore, will help reduce pressure on the three key highways once completed. It will be around 2km before Kherki Daula toll plaza.

P K Kaushik, a senior NHAI official, said that few big commercial projects are coming up in that part of the city due to which the traffic volume will go up on the expressway and the peripheral roads. The cloverleaf will help handle the growing traffic, he said. Around 1.4 hectare land will be acquired by Huda between Kherki Daula and Muhammadpur village and handed over to NHAI free of charge.

NHAI officials said the clover leaf will be a two-level interchange in which left turns, will be handled by slip roads. Vehicles in the middle will be allowed to continue straight on the road in either of the four directions. Those between the middle and extreme left lanes will pass over/under others, and exit right on to a one-way three-fourths loop (270°) ramp and merge with the intersecting road.

“The objective of a cloverleaf is to allow two highways to cross without the need for traffic to stop at signals, for both left and right turns,” and NHAI official said.

The SPR originates from Gurgaon-Faridabad Road near Ghata and meets NH-8 near Kherki Daula, and is proposed to be connected to the Northern Peripheral Road (Dwarka expressway) through CPR. The CPR starts near Kherki Daula village and meets NPR near Harsaru village.

Huda has confirmed that a plan is in making to create the cloverleaf, and it is in the know. “A cloverleaf intersection is essential at the junction of SPR, CPR and NH-8 to help maintain a smooth traffic flow. NHAI has conducted a feasibilty report in this regard,” said a Huda official. Another official said the junction does not need any signals, ensuring smooth traffic flow on NH-8.

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