The Haryana government has approved a 20% hike in External Development Charges (EDC) for real estate projects, effective January 1, 2025. Additionally, an annual 10% increase will follow from 2026 onward.
EDC is levied on developers to fund external infrastructure, including roads, drainage, water supply, and electrical networks. The revised rates aim to boost urban development, but they also increase project costs, potentially affecting property prices and affordability.
Gurugram, a high-demand real estate market, will feel the impact significantly, as developers may pass on the cost burden to homebuyers. Experts warn that this could slow down new project launches and affect investment sentiment.
While the government emphasizes that the hike will enhance infrastructure, developers and buyers are concerned about rising costs and market stability. The coming months will reveal how Gurugram’s real estate sector adapts to these changes.
