Pandemic hit homebuyers in UP can go for one-time settlement till year-end

Real Estate

Giving a major relief to the COVID-19 hit homebuyers in Uttar Pradesh, the state government has extended the one-time settlement scheme for allottees till December 31, 2020.  Earlier the scheme had ended last month. The development assumes significance as more and more allottees have defaulted on payments which has caused loss of revenue to the development authorities and housing board. The Housing and urban planning department of UP has in a recent communique sent to housing authorities as well as housing board, laid down amendments in detail in the earlier OTS which started in February this year. The OTS scheme has been extended as per the directions of UP Chief Minister Yogi Adityanath.

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