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.
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