GNIDA gives time till Sept 30 to defaulters

About 3,500 homebuyers from various sectors of Greater Noida, who have defaulted on payments to Greater Noida Industrial Development Authority (GNIDA), have been given time till September 30 to clear their dues.

Officials quoted in media reports said only simple interest would be levied on the compensation that is due. The additional penalty on interest will be waived, they said. Apart from this, if there is any delay in getting a lease deed done, a 40 pc rebate will be given on the total late fee.

“If one has purchased a residential plot or constructed a building on GNIDA land and owes the Authority some payment, the last date of availing exemption on payment of the total outstanding amount is September 30. We had approved this one-time settlement scheme in our Board meeting on June 26. After September 30, the allottees will have to pay the entire outstanding amount with due interest,” said Narendra Bhooshan, CEO of GNIDA.

Under the scheme, owners of plots measuring up to 150 sqmt will have to pay Rs 2,000 as processing fee. For those allotted bigger plots, a processing fee of Rs 5,000 will be levied.