People who booked CIDCO flats in Navi Mumbai are facing difficulties in paying installments on account of the COVID-19 pandemic and the market situation hastened by the three-month long lockdown.
The CIDCO on Wednesday announced it is extending the payment date of all installments of housing schemes further by three months– from June 30 2020 to September 30. The move is ‘to give relief for various housing applicants in this stressed time.’
A CIDCO official told that earlier the authorities had given a three-month extension–between March and June 2020– to applicants who had booked the flats constructed under a housing scheme for people belonging to lower-income group and economically backward segment in places like Kharghar, Taloja, Belapur, Panvel and Dronagiri. The project was completed in 2018.
Payment for these 1 BHK homes, priced less than Rs 30 lakh each, was to be made in 5 installments while the 6th installment is to be paid by the state government under the Pradhan Mantri Awas Yojna scheme.
Public Relation Officer for CIDCO, Priya Rantambe said that a majority of the 15,000 applicants had paid most part of their installments while some are yet to pay certain parts of the installment amount. As per the allotment conditions, applicant/s failing to deposite the installment on time could face cancellation of the booking. “The move is precisely meant for the benefit of those who are likely to face difficulties to pay up the dues in time on account of the prevailing situation,” she said.
However, the CIDCO made it clear that taxes would be added to the deferred payment scheme at the time of deposit, which will be calculated later.