Millennium Post

One-time settlement policy by GNIDA

One-time settlement policy  by GNIDA

Greater Noida: The Greater Noida Industrial Development Authority (GNIDA), on Friday, launched a one-time settlement (OTS) scheme for group housing and built-up projects. The authority has launched the scheme keeping in mind the builders who have failed to pay debts and have been declared as defaulter by the authority. The authority is aimed to waive off the interest on the penalty being levied on the defaulters.

As per GNIDA officials, the scheme has been launched for those projects that have been allotted land before 2012-13 and the builder has been declared as defaulter by the authority.

"The allottees can apply for the scheme by paying a processing fees of Rs 2000 by March 2019. After this all the application will be accepted at a fees of Rs 5000 from April 1 to May 31. A person can get full information about the scheme on authority's website," said a senior officer of Greater Noida authority.

The officer further said that the applicant has to deposit a 5 per cent of the total of defaulted amount, 64.7 per cent extra compensation and lease deed penalty along with the application.

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