The Times of India 16.02.2013
Lucknow Development Authority targets more than 7,000 for OTS scheme
LUCKNOW: To recover cost
of various projects launched in the past, Lucknow Development Authority
is pinning all its hopes on the OTS scheme
announced recently which is targeted at one time settlement of all
kinds of defaulters who have failed to pay instalments in time against
properties allotted to them. Under OTS (one time settlement) scheme, the
defaulters would be charged only simple interest on the pending amount
as against the norm of charging compound interest annually. This is
quite a lucrative proposition to attract all those defaulters who have
been unable to pay the instalments to the LDA.
The agency expects more than 7,000 persons to get motivated to take advantage of this scheme. If people turn out in expected numbers, the scheme could prove to be quite rewarding for the development authority to recover money invested in the projects so far. tnn
The initiative is very significant considering its launch towards the closing of this financial year.
The housing department of the state government had issued a GO on Jan 24 which extended the deadline of OTS scheme till March 31.
Last year, the OTS scheme had attracted around 3,000 defaulters to pay off their dues. This year the numbers are expected to increase.
The agency expects more than 7,000 persons to get motivated to take advantage of this scheme. If people turn out in expected numbers, the scheme could prove to be quite rewarding for the development authority to recover money invested in the projects so far. tnn
The initiative is very significant considering its launch towards the closing of this financial year.
The housing department of the state government had issued a GO on Jan 24 which extended the deadline of OTS scheme till March 31.
Last year, the OTS scheme had attracted around 3,000 defaulters to pay off their dues. This year the numbers are expected to increase.
