A one-time settlement (OTS) scheme, rolled out by the Greater Noida Industrial Development Authority (GNIDA) for the allottees of its buildings, is set to provide a major breather to those who have failed to the clear dues.
Under the scheme, the allottees will now have to pay a lesser amount for defaulting on the premium. Defaulters, officials said, will have to pay a simple interest on a defaulted amount, and not a compound interest that is usually charged.
“There are three types of dues which allottees will be able to clear under the scheme. Building allottees who have failed to pay the outstanding premium and additional compensation on time and those who failed to get the lease deed on time, resulting in a hefty late fee,” Authority’s CEO Narendra Bhooshan said.
The GNIDA board had approved the OTS scheme on April 5 at its board meeting, following which the department issued an office order. According to officials, the scheme will be applicable till September 30 but those who apply till June 30 will be given an additional relaxation.
The allottees, who apply by June 30, will get a rebate of 30% and thus have to deposit only 70% of the late fees. While those who apply between July 1 and September 30 will have to deposit 80% of the total late fee, while the remaining 20% will be waived off, officials said.
To obtain a benefit under the OTS scheme for the buildings up to 150 square metres, a processing fee of Rs 2,000 will be levied, while those above 150 sqm will attract a processing fee of Rs 5,000.
The Board had also given a green signal to a one-time settlement scheme for water defaulters. Under this, a 40% rebate will be extended on the amount of interest on depositing the outstanding amount in lump sum till March 31. Similarly, a 30% rebate will be given if deposited in April, 20% in May and 10% in June.