The Prayagraj Development Authority (PDA) has announced a significant relief measure for hundreds of allottees under its housing and plot schemes by introducing the One-Time Settlement (OTS) scheme aimed at clearing long-pending dues. This initiative is expected to benefit numerous individuals who have defaulted on payments for flats or plots allocated under various PDA schemes.
Details of Outstanding Dues
According to officials, a total of 317 defaulters owe approximately Rs 41 crore in outstanding dues. These defaulters include individuals who purchased flats or plots under various PDA schemes but failed to pay the instalments on time. As a result, interest kept accumulating, and in many cases, the compounded interest has now reached a level almost equal to the original cost of the properties. This situation has created a financial deadlock for both the authority and the allottees.
Issues with Registry and Freehold Process
Officials noted that in several cases, the registry of plots was completed, but the freehold process remained pending. This led to further delays in payments and accumulation of penalties. Over time, the dues increased significantly, leaving both the authority and allottees in a difficult situation. The PDA recognized the need for a resolution to address these mounting arrears.
Features of the One-Time Settlement Scheme
To resolve the issue, the PDA has rolled out the OTS scheme, offering substantial relief to defaulters. Under this scheme, penal interest will be completely waived, and the remaining principal amount can be paid in six to seven instalments. This provision is designed to make it easier for defaulters to clear their dues without the burden of additional penalties. However, officials clarified that extending the number of instalments beyond the prescribed limit will reduce the benefits available under the scheme. Therefore, defaulters are encouraged to opt for the shortest possible repayment period to maximize relief.
Impact and Next Steps
The OTS scheme is expected to provide a win-win situation for both the PDA and the allottees. For the authority, it ensures recovery of the principal amount, while for defaulters, it offers a chance to clear dues without the crushing weight of penal interest. The PDA has urged all eligible allottees to take advantage of this limited-time offer and settle their accounts promptly. Detailed information about the scheme, including application procedures and payment schedules, has been made available at the PDA office and its official website.
