Yamuna Authority introduces OTS scheme to help beneficiaries pay Rs 4,400 crore dues

NOIDA: The Yamuna Authority has introduced a one-time settlement (OTS) scheme to help beneficiaries
of EWS, LIG, MIG, residential plots, and 7% of Abadi plots pay their dues. The OTS initiative is expected to benefit around 10,000 people, who owe around Rs 4,439 crore to the Authority.
Approved during a board meeting on June 26, the scheme is set to be implemented from August 1 to August 31, providing a one-month window for eligible allottees to avail themselves of the scheme. Under it, the defaulting allottees will be charged simple interest, equivalent to the interest rate applicable at the time of property allotment, and the interest rates in effect at the Authority. However, no penal interest will be imposed on the allottees’ installments, while other liabilities will remain unchanged.

Allottees who have filed complaints with UP-Rera or any court will be eligible for the scheme only after withdrawing their cases. The application process for the scheme will be held online through the Authority’s portal, where a dedicated link will be provided. To ensure applicants’ convenience, a joint help desk and a call centre will be set up by the system and property department. The calculation of dues will involve adding the default amount to the original premium dues, with only penal interest being waived.