Greater Noida authority to re-launch amnesty scheme on premium land dues
Monday, January 27, 2020 IST
The Greater Noida Industrial Development Authority (GNIDA) has decided to re-launch the One Time Settlement Scheme (OTS) to settle land dues. Under the amnesty scheme, the authority will also provide rebate on the yearly interest levied on extra premium on land parcels.
The GNIDA would offer a concession on the premium, lease and on the interest of extra 64.7 percent compensation to the allottees of residential land in Greater Noida. Officials have shared that the amnesty scheme would help the defaulters to clear off land dues.
Earlier in March 2019, the One Time Settlement Scheme was announced by the authority to recover the dues from the defaulters. The scheme did not receive a good response. KK Yadav, Assistant General Manager (Property), GNIDA, has shared that the new rebate scheme will reduce the interest levied on the additional income of 64.7 percent on a land parcel.
Reportedly, the authority had already floated settlement scheme for the individual residential plots allocated in 2013, where no structure was construction. To apprise, One Time Settlement Scheme is introduced to help the land allottees who are unable to pay the dues on time. The defaulter can apply for this scheme afresh after paying the processing fee.
Related Topics
Related News & Articles
Ocean Infraheights unveils Golden I, a premier Mixed Use development in Greater Noida West, offering office spaces, Retail, Corporate Suites and residences with a...
Recently posted . 1K views . 4 min read
Earlier, officials had divided the city into four zones and proposed to increase the land rates in zones A, B and C. Land rates of sectors under zone D would not be...
Recently posted . 1K views . 2 min read
We recently announced that Golden I will now be Managed and Operated by Ocean Infraheights Pvt. Ltd.,
Recently posted . 1K views . 1 min read
The Greater Noida Industrial Development Authority (GNIDA) has temporarily suspended the penalty charges levied on delayed housing projects. As per the new norm, ...
Recently posted . 718 views . 3 min read
Godrej Properties Ltd. (GPL) today announced that it has sold 340 homes with an area of more than half a million square feet on the first day of launch
Recently posted . 3K views . 1 min read
Trending News & Articles
Godrej Properties Ltd. (GPL) today announced that it has sold 340 homes with an area of more than half a million square feet on the first day of launch
Recently posted . 3K views . 1 min read
An intestate death often causes chaos with family often ending up fighting to get property. The succession act was created to resolve the impending chaos when a per...
Recently posted . 3K views . 2 min read
The unprecedented crisis put across by the COVID-19 outbreak has impacted the residential real estate significantly. Here are a few notable trends that are likely t...
Recently posted . 3K views . 1 min read
If you think Wills are only for the rich, you are absolutely wrong. A Will is an essential part of any estate plan. It is the primary document for transferring your...
Recently posted . 2K views . 5 min read
More in Real Estate
The unprecedented crisis put across by the COVID-19 outbreak has impacted the residential real estate significantly. Here are a few notable trends that are likely t...
Recently posted. 3K views . 1 min read
In the logjam between builders and homebuyers, the advocates of the Bar Association-run Legal Aid Cell will assist those in need of help.
Recently posted. 1K views . 0 min read
Earlier, officials had divided the city into four zones and proposed to increase the land rates in zones A, B and C. Land rates of sectors under zone D would not be...
Recently posted. 1K views . 1 min read
Recently posted . 3K views
Recently posted . 2K views
Recently posted . 3K views
Are you planning to buy a property? There are certain things that should be kept in mind. Since it is the biggest investment, therefore it is extremely important to...
Recently posted. 1K views . 1 min read
Indian residential real estate is increasingly driven by end-users - and women homebuyers are emerging as major contributors towards this trend.
Recently posted. 1K views . 1 min read