Last chance for DDA defaulters to pay up
The Delhi Development Authority will close the "penalty relief scheme" for defaulters on June 30, reports HT Correspondent.delhi Updated: Jun 24, 2008 01:10 IST
The Delhi Development Authority (DDA) will close the "penalty relief scheme" for defaulters on June 30. The scheme was floated for people who are yet to make full payment for the DDA flats they had purchased under various schemes.
The agency had launched the scheme last year and had extended it up to June 2008. Senior DDA officials said that this was the last opportunity for defaulting allottees—who had bought flats on a hire-purchase basis under various DDA housing schemes—to pay up. Failure to clear their dues will invite strict action. The agency will soon start the process of taking possession of the defaulters' flats.
"Considerable relief has been given to defaulters to enable them to clear all dues and to avoid cancellation of property on account of non-payment," said DDA spokesperson.
The scheme is available only for those who intend to clear their dues at one go. The defaulters will have to pay all outstanding installments from the date of application, interest penalty (after relief), ground rent with interest or capitalized ground rent (that is 12 per cent of land cost if not paid earlier), service charges with interest or capitalized service charges (that is 5 per cent of land cost, if not paid earlier.)
Those who opt for the scheme will get the following relief: 25 percent discount on unpaid penalty (interest) on late/non-payment of installments and zero restoration charges.
If an applicant falls short of the dues by up to Rs 25,000, he/ she will be considered under the scheme but will have to deposit the balance amount on demand, together with an interest of 18 per cent per annum from the date of application. "Failure to pay this amount within three months will result in cancellation of property," said an official.