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Haryana

GURGAON-Manesar industry owners denounce revised circle rates

December 04, 2018 05:17 AM

COURTESY THE HT DEC 4

Dhananjay Jha dhananjay.jha@htlive.com ■ ■
Manesar industry owners denounce revised circle rates
It is not possible for owners to pay 5% stamp duty at ₹18,200/sq ft. This will put a financial burden on at least 20% industry owners of Manesar.

GURUGRAM: Industry owners of Manesar have written to the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC), seeking relief from the terms of execution of conveyance deeds.

The industry owners want the HSIIDC to execute conveyance deeds as per the original rate of plot allotment. However, the HSIIDC, in a notice in June this year, has mentioned a cut-off line for plot allotment rate for conveyance deeds that ended on September 30 this year. Post that, HSIIDC wants the industry owners to pay as per the current circle rate. Allotment of plots took place 15 years ago when circle rate was ₹2,200/sq ft, while the current circle rate is ₹18,200/sq ft.

Conveyance deed is a mandatory process that has to be followed by the industry owners to claim ownership of the plots they have purchased from the HSIIDC through an open draw 15 years ago.

There are around 2,200 plots in IMT Manesar, of which 25% plot owners have come under the purview of the new policy of the HSIIDC. The owners have approached the IMT Industrial Association of Manesar to take up the issue with the government.

Association members claim that the HSIIDC has set a deadline on purpose, just to harass industry owners, as conveyance deeds based on the current circle rate would put huge financial burden on the plot owners. The MANOJ TYAGI, Secretary, IMT Industrial Association

association said that owners bought plots 15 years ago at the rate of ₹2,200/sq ft, while the prevalent circle rate is ₹18,200/ sq ft.

“It is not possible for owners to pay 5% stamp duty at ₹18,200/ sq ft. This will put a financial burden on at least 20% industry owners of Manesar. They would be unable to execute conveyance deeds at the current rate,” said Manoj Tyagi, secretary of the association. Execution of conveyance deed is crucial as the deed would make purchasers bonafide owners of the plots.

“Other government departments that sold plots in the state are executing conveyance deeds at current rates. The HSIIDC cannot follow a different rule,” said Sunil Singh Panwar, industry owner. The industry owners said that the HSIIDC step goes against the spirit of the slogan of the government that is ‘ease of doing business’.

Priya Sardana, general manager HSIIDC, said, “Notices have been sent to industry owners as per the direction from the head office. Industry owners are well aware of the policy

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