Delay in possession: Allottees demand 12% fee of curiosity

Delay in possession: Allottees demand 12% fee of curiosity

Tribune Information Service

Amritsar, January 6

A delegation of residents of Sri Guru Ramdas City Property, situated on Airport Street, not too long ago met visiting Cupboard Ministers and handed over a memorandum to them demanding primary civic facilities within the colony.

Surinder Chauhan, president of the Sri Guru Ramdas City Property Affiliation, stated the memorandum containing their calls for was handed over to Cupboard Ministers Aman Arora, Housing and City Growth Minister and Harbhajan Singh ETO. He stated Aman Arora after going by way of their calls for promised to unravel all the issues of the allottees and residents of the city property.

Plot allottees and residents demanded that 12 per cent fee of curiosity on the full sale quantity of the plot resulting from late growth and delay in possession must be waived off. They stated there was no provision of a penalty on the PUDA for the delay in offering possession to allottees. Nevertheless, a delay on the a part of allottees in depositing plot’s value attracts a penalty of 15 per cent, which incorporates 12 per cent curiosity on the stability quantity of the plot value and three per cent penalty for the primary yr. It’s 16 per cent (12 per cent curiosity and 4 per cent penalty) in case two years and 17 per cent (12 per cent curiosity and 5 per cent penalty) in case of three years and above.

They stated it was a double whammy for plot holders to pay for the PUDA’s anomaly after which pay curiosity on the mortgage taken, in addition to, exponential rise within the building value, that too as a result of delay on the a part of PUDA in offering primary civic facilities.

Floated in November 2015, 389 allottees got allotment letters in 2016 following a draw of heaps held on March 3, 2016. On the time of allotment of plots of various sizes, which incorporates 83 plots of 200 sq. yard (sq y), 72 plots of 256 sq y, 74 plots of 300 sq y, 62 plots of 400 sq y, 98 plots of 500 sq y, the scheme was hailed as first built-in township with extensive roads and state-of-the-art commerce centre. Even after the passage of a number of years, the scheme is but to obtain all facilities.

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