Applicants applying for a residential house in GNIDA independent houses scheme BHS-15/2012 have two options of making the payments on allotment of an independent house. These are cash down payment plan and five-year payment plan with Interest.
GNIDA Independent Houses Scheme BHS-15/2012 – Payment Plans for the Successful Applicants
Greater Noida (Uttar Pradesh, India), October 22, 2015
The Greater Noida Industrial Development Authority (GNIDA) had launched a residential scheme of 321 independent houses (GNIDA Scheme Code BHS-15/2012) in Greater Noida on August 15, 2012.
The applicants applying for a residential house in GNIDA independent houses scheme BHS-15/2012 have two options of making the payments on allotment of an independent house.
The GNIDA independent houses scheme BHS-15/2012 applicants can choose either ‘Cash Down Payment Plan’ (Payment Code E-1) or ‘Five-Year Payment Plan with Interest’ (Payment Code E-2) by mentioning the same in their application forms.
Cash Down Payment Plan (Payment Code E-1)
In the Cash Down Payment Plan, successful applicants or allottees are required to pay the total premium of the independent houses, after adjusting registration money already paid, within 90 days from the date of allotment.
Once you have opted for the Cash Down Payment Plan, the Greater Noida Industrial Development Authority will not permit any change in the payment plan.
The Greater Noida Industrial Development Authority will first hold the lottery draw of lots for the applicants opting for the cash down payment plan. Thereafter, draw of lots for the remaining independent houses, if any, shall be held for the five-year installment payment plan.
Five-Year Payment Plan with Interest (Payment Code E-2)
In the Five-Year Payment Plan, 30% of the total premium of the independent house, after adjusting the registration money already paid, shall be payable within 45 days from the date of allotment as the allotment money.
Balance 70% of the total premium of the independent house shall be payable in ten equal half-yearly installments calculated from the 46th day from the date of allotment with interest at the rate of 12% per annum on reducing principal amount at the end of each half yearly.
The Greater Noida Industrial Development Authority will inform you about the dues payable for the allotted independent house through an allotment letter.
For the purpose of record and documentation, the Greater Noida Industrial 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 Greater Noida Industrial Development Authority in the form of Demand Draft or Pay Order drawn in favour of ‘Greater Noida Industrial Development Authority’ payable at Greater Noida, Noida, Delhi, or New Delhi.
Extension of Date for Payments
Normally, the Greater Noida Industrial 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 Greater Noida Industrial Development within the prescribed time limit, CEO of the Authority may allow extension of time for such default period under exceptional circumstances up to a maximum of 3 months. This will be subject to the condition that during the entire payment plan such extensions shall not be more than three times.
In the event of such extensions of payment date, interest at the rate of 15% per annum, compoundable quarterly, shall be payable on the defaulted amount for the defaulted period.
The Greater Noida Industrial 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
The last date of booking or registration for the GNIDA independent houses scheme BHS-15/2012 was on September 14, 2012.
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