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Yamuna Authoritys New OTS Scheme to Ease Dues for Plot Beneficiaries

Rishabh Chamoli | 2023-07-25

The Yamuna Authority has recently launched a one-time settlement (OTS) scheme to assist beneficiaries of EWS, LIG, MIG residential plots, and 7% of Abadi plots in clearing their dues. This initiative is expected to positively impact approximately 10,000 individuals who collectively owe the Authority around Rs 4,439 crore.

Who Can Benefit from the OTS Scheme?

The scheme, which was approved during a board meeting on June 26, is scheduled to be implemented from August 1 to August 31, providing a one month window for eligible allottees to take advantage of the scheme. It is crucial for beneficiaries to determine if they qualify for the OTS program to avoid missing out on this opportunity to settle their outstanding dues.

Interest Rates and Penalties

Under the OTS scheme, defaulting allottees will be charged simple interest, which will be equivalent to the interest rate applicable at the time of property allotment, along with the current interest rates set by the Authority. Importantly, the defaulting allottees will not be subjected to any penal interest on their instalments, while other liabilities will remain unchanged.

Eligibility for Allottees with Complaints

Allottees who have previously filed complaints with UP Rera or any court will be eligible for the OTS scheme but only after withdrawing their respective cases. This condition aims to facilitate a smooth settlement process for the beneficiaries and ensure their full participation in the scheme.

Application Process and Assistance

The application process for the OTS scheme will be conducted online through the Yamuna Authoritys portal, where a dedicated link will be made available to interested parties. To ensure a seamless experience for applicants, a joint help desk and a call centre will be set up by the system and property department. This step is taken to provide support and address any queries or concerns beneficiaries may have during the application process.

Dues Calculation

The default amount will be added to the original premium dues, while penal interest will be waived to determine the dues amount under the OTS scheme. This calculation method simplifies the process and makes it fair for all beneficiaries participating in the scheme.