Delhi Government has decided to grant substantial relief in interest for delayed payments to allottees of Residential Flats Registration Scheme, 1985.
In order to provide relief to allottees, the interest penalty waiver was approved by the Delhi Urban Shelter Improvement Board (DUSIB). Chief Minister Sheila Dikshit chaired the DUSIB meeting.
Under the Residential Flats Registration Scheme, the erstwhile Slum & JJ Department allotted 5,662 flats through a computerised draw after preparing a priority list. Out of the 5,662 flats, 2,463 flats were allotted on a higher purchase basis. The allottees of 2,463 flats were required to pay 25 per cent of the cost of the flat at the time of allotment and the balance in 180 equated monthly instalments.
Dikshit said that the rate of interest for delayed payments after one month would be 12 per cent, after two months 24 per cent and three months later 48 per cent. Should the allottees fail to deposit the balance cost of the flat on time it would result in the aggregated arrears.