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Noida, 2 others offer simple installment arrangements to land defaulters to recoup contribution

April 20, 2016 | By

The Noida Authority has joined the two other Gautam Budh Nagar powers to begin a plan that offers less demanding rescheduled installment arrangements to defaulting land allottees, with a specific end goal to recuperate levy that sum to about Rs 15,000 crore. The aggregate area levy for the three powers is Rs 24,000 crore.


Noida authorities said the new plan will just keep running till April 30, under which allottees will have one opportunity to present an application and acknowledge the rescheduled installment arrangement. Budgetary specialist EY has cleared the Authority’s installment plan, and it will be interested in allottees over all classifications of area use bunch lodging, institutional, mechanical, business and individual allottees.

The Noida Board had endorsed the rescheduled installment arrangement in the most recent week of March, after allottees refered to monetary lull as explanation behind them being not able pay up. A senior Authority official said defaulting allottees will need to pay a settled rate of the aggregate levy inside 30 days of their applications being endorsed by the arranging and property bureau of Noida.

“At first, an allottee who has an extraordinary sum surpassing Rs 500 crore, will need to pay up 10% of the sum, while allottees owing the Authority not as much as Rs 500 crore will need to pay 15% of the due sum,” the authority said, adding all allottees will need to pay enthusiasm on the equalization sum, which will be gathered in portions.

Authorities of each of the three powers said strict move will be made against allottees who decline to pay up. “Not just will we issue lease deed cancelation sees, we can even seal or appropriate their properties,” said an authority.

The pardon plan was initially offered by Greater Noida Authority, under which allottees were at first solicited to pay 25% from the aggregate duty. It finished on March 31. The Yamuna Expressway Authority (YEIDA), then again, is looking at defaulters case by case.


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