Panchkula to Woo Realty Investors with Reduced Taxes
To ensure holistic development of Panchkula and in a bid to woo Real Estate Investors for making potential investment in Panchkula district, Haryana Chief Minister, Manohar Lal Khattar on 2nd March announced that various developmental charges and taxes have been reduced by almost one-third in Panchkula district, bringing them at par with Mohali and Zirakpur. Khattar said, "The decision to bring down External Development Charges (EDC) and Infrastructure Development Charges (IDC) at par with Mohali and Zirakpur has been taken to ensure overall development of Panchkula and to develop Panchkula as a Smart City, Tourist Destination and Education Hub." As per the decision, EDC/IDC rates for the Residential Plots Colony have now been reduced from Rs.1.24 crore per acre to Rs. 43.72 lakh per acre. Likewise, EDC/IDC rates for the Residential Group Housing Colony are reduced from Rs. 3.46 crore per acre to Rs. 1.17 crore per acre. The Chief Minister further announced that EDC/IDC rates for Affordable Group Housing Colony have been reduced from Rs. 89.11 lakh per acre to Rs. 38.87 lakh per acre.