Impact of EDC Changes on Haryana Real Estate: What You Need to Know
The Haryana government’s decision to revise External Development Charges (EDC) is a game-changer for the state’s real estate sector. Here’s a quick overview:
Key Changes:
20% Hike in EDC starting January 2025.
10% Annual Increment thereafter.
Implications:
Higher Costs: Developers are likely to pass on increased expenses to buyers, affecting affordability.
Potential Slowdown: The higher burden may deter new projects.
Long-Term Benefits: Improved infrastructure development, enhancing connectivity and amenities.
While the move is aimed at funding essential infrastructure, balancing affordability with development will be critical.
The Haryana government’s decision to revise External Development Charges (EDC) is a game-changer for the state’s real estate sector. Here’s a quick overview:
Key Changes:
20% Hike in EDC starting January 2025.
10% Annual Increment thereafter.
Implications:
Higher Costs: Developers are likely to pass on increased expenses to buyers, affecting affordability.
Potential Slowdown: The higher burden may deter new projects.
Long-Term Benefits: Improved infrastructure development, enhancing connectivity and amenities.
While the move is aimed at funding essential infrastructure, balancing affordability with development will be critical.
