Greater Noida Authority gives big relief to flat buyers, waived fine on dues

Greater Noida Authority gives relief to built-up housing and flat buyers.

Development Authority of Greater Noida area located in Gautam Budh Nagar district of Uttar Pradesh (Greater Noida Authority) has given relief from penalty on the outstanding amount while approving the one-time settlement scheme for the buyers of built-up housing societies and flats. Narendra Bhushan, Chief Executive Officer (CEO) of Greater Noida Authority said that this decision was taken in the meeting of the Authority’s board held on Tuesday. Housing Society (Housing Society) and flat purchase (Flat BuyersThe Board has decided to bring a one-time settlement scheme, giving relief from the penalty on the outstanding amount. This scheme will be applicable till 30 September.

During the Kovid-19 crisis, the built-up housing societies and all the flat buyers could not pay the outstanding premium on time. Delay in getting the lease levied late fee on these buyers. The Board of Authority has decided to give one more chance to such allottees to clear the dues. The board has given green signal to bring a one-time solution plan for these buyers.

Relief for home buyers

Bhushan said that on the implementation of this scheme, there will be no penalty interest on the defaulted amount and the allottee can get relief by paying simple interest. At the same time, allottees who are unable to deposit 64 percent additional tax on time can also take advantage of this scheme. Penalty interest will not be levied on the defaulted amount of tax payable on tax.

Late payment of lease deed will also be exempted

Similarly, the Authority Board has given relief in the late fee of the lease deed. If the allottee deposits 70 percent of the late fee amount by June 30, then he will get a 30 percent rebate. On the other hand, if you deposit the late fee by September 30, then they will get a discount of 20 percent.

Approved the budget of Rs 5,104 crore

The board of the Greater Noida Industrial Development Authority approved the budget of Rs 5,104 crore for the financial year 2022-23. This is the biggest budget after the financial year 2017-18. In this budget, maximum emphasis has been given on land acquisition, infrastructure development and development of villages and sectors.

In the budget of 2022-23, more emphasis has been given on land acquisition. It is planned to spend about Rs 2,000 crore for this. More than Rs 1,400 crore will be spent this year on development of sectors and villages of Greater Noida, health services etc. This year the authority is estimated to have an income of about Rs 7,322 crore.

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