LIT urges property owners to avail of one-time settlement schemes, ET RealEstate
LUDHIANA: Ludhiana Improvement Trust (LIT) officials urged people to avail themselves of the scheme for one-time settlement policies, which provide relief to defaulters from non-construction fees and pending dues for the allotment of properties.
In a press statement issued on Thursday, LIT Chairman Tarsem Bhinder said that the local bodies department issued two one-time relaxation policies for the allottees, those transferred, and owners of properties falling under development schemes of LIT.
Under the non-construction fee policy, a 50% discount was given on the total amount of non-construction fee (principal amount and interest) due to allottees of properties falling under the development schemes of the trust, for which less than 15 years or more than 15 years passed from the date of issuance of the allotment letter.
The non-construction fee due for more than 15 years was fixed at the rate of 5% of the reserve rate (applicable). Along with this, senior citizens, women, and legal heirs of soldiers of the Armed or Paramilitary Forces killed in action were also given an additional 25% discount on the above-given discount on the non-construction fee.
After getting an exemption from the govt under the one-time relaxation policy regarding the amount of non-construction fee (NCF), the allottee will be bound to deposit the amount and construct his property by getting the plan approved by December 31. He said that under the one-time settlement for pending dues where allottees made some kind of payment, this exemption will be applicable only in cases in which allottees deposited 1/4th part of the amount after the allotment of property. According to this, allottees will be able to regularise their property by depositing the remaining amount at the applicable rate (at simple interest) and restaurant charges at the rate of 2.5% at the reserve rate for the year 2025-26. Complete exemption was given on penalty/penal interest.
Bhinder said that if allottees, transferees, or owners of properties falling under the development schemes of the trust want to get the benefit under the one-time relaxation policy regarding the amount of non-construction fee (NCF) issued by the govt, they can get the benefit by submitting a request in person or via email at the trust office till July 31. If anyone wants to get any other information in this regard, they can come to the LIT office on any working day and get the information.
152
20
20
