Applicants applying for a residential flat in the GDA Madhuban Bapudham flats scheme 829 have two options of making the payments on allotment of a multistory flat. These options are One-Time Payment Plan and Installment Payment Plan with interest.
GDA Madhuban Bapudham Multistory MIG Flats Scheme 829 – Payment Plans for Successful Applicants
Ghaziabad (Uttar Pradesh, India), October 31, 2015
The Ghaziabad Development Authority (GDA) had launched a residential scheme of 32 multistoried Mini MIG flats (GDA Scheme Code 829) in Ghaziabad, Uttar Pradesh on October 07, 2013.
The applicants applying for a residential flat in GDA Madhuban Bapudham multistory flats scheme 829 have two options of making the payments on allotment of a Mini MIG flat.
The GDA Madhuban Bapudham multistoried flats scheme 829 applicants can choose either ‘One-Time Payment Plan’ or ‘Installment Payment Plan with Interest’ by mentioning the same in their application forms.
One-Time Payment Plan
In the One-Time Payment Plan, successful applicants or allottees are required to pay the total cost of the multistoried flats, after adjusting registration money already paid, within 60 days from the date of allotment letter.
Further, the Ghaziabad Development Authority will give a 5% discount in case an allottee makes the full balance payment for the allotted flat within 60 days of the issue of the allotment letter.
Once you have opted for the One-Time Payment Plan, the Ghaziabad Development Authority will not permit any change in the payment plan.
Installment Payment Plan with Interest
In the Installment Payment Plan, 20% of the total cost of the multistory flat, after adjusting the registration money already paid, shall be payable within 60 days from the date of allotment as the allotment money.
Balance 80% of the total cost of the multistoried Mini MIG flat shall be payable in twelve equal quarterly installments calculated from the 61th day from the date of allotment with interest at the rate of 12% per annum on reducing principal amount at the end of each quarter.
The Ghaziabad Development Authority will inform you about the dues payable for the allotted multistory flat through an allotment letter.
For the purpose of record and documentation, the Ghaziabad Development Authority will reckon the date of issue of allotment letter as the date of allotment.
Place of Payment
The designated bank branches authorized in your allotment letter will accept the payments directly.
Mode of Payment
You can make all payments to the Ghaziabad Development Authority in the form of Demand Draft or Pay Order drawn in favour of ‘Vice-Chairman, G.D.A., Ghaziabad’ payable at Ghaziabad, Delhi, or New Delhi.
Extension of Date for Payments
Normally, the Ghaziabad Development Authority shall not allow any extension of the date for the payments.
However, if due to any reason, you fail to pay the amount payable to the Ghaziabad Development Authority within the prescribed time limit, the Authority may allow extension of time for such default period under exceptional circumstances up to a maximum of 1 month.
In the event of such extensions of payment date, interest at the rate of 15% per annum, shall be payable on the defaulted amount for the defaulted period.
The Ghaziabad Development Authority will adjust the payment made by allottee first towards the interest due, if any, and thereafter the balance payment shall go towards the installment due and the lease rent payable.
The Last Date for Submission of Application Forms for GDA Madhuban Bapudham Scheme 829
The last date of booking or registration for the GDA Madhuban Bapudham multistoried Mini MIG flats scheme 829 was on November 30, 2013.
GDA Madhuban Bapudham Multistory Residential Flats Scheme 829
Ghaziabad Development Authority – Madhuban Bapudham Multistoried Flats Scheme 829
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