NOIDA: The Yamuna Authority has introduced a beneficial one-time settlement (OTS) scheme aimed at assisting beneficiaries of EWS, LIG, MIG, residential plots, and 7% of Abadi plots in clearing their outstanding dues. The OTS initiative is expected to benefit approximately 10,000 individuals, collectively owing around Rs 4,439 crore to the Authority.
This scheme received approval during a board meeting on June 26 and is scheduled to be implemented from August 1 to August 31, providing a one-month window for eligible allottees to avail themselves of its benefits.
As per the scheme’s provisions, defaulting allottees will be charged simple interest, equivalent to the interest rate applicable at the time of property allotment, and the prevailing interest rates at the Authority. However, no penal interest will be imposed on the allottees’ installments, while other liabilities will remain unchanged.
Eligible allottees who have filed complaints with UP-Rera or any court will be able to participate in the scheme only after withdrawing their cases. The application process for the OTS scheme will be conducted online through the Authority’s portal, which will offer a dedicated link for this purpose.
To ensure a seamless experience for applicants, a joint help desk and call center will be established by the system and property department. The calculation of dues will involve adding the default amount to the original premium dues, with only penal interest being waived.
The OTS scheme is expected to provide significant relief to the beneficiaries, allowing them to settle their dues and regularize their property ownership without the burden of additional penal interest.