Lucknow Development Authority to Launch One-Time Settlement Scheme from April 18
The Lucknow Development Authority (LDA) has announced the rollout of its much-anticipated one-time settlement (OTS) scheme, set to commence on April 18. This initiative aims to provide significant relief to property allottees who have defaulted on their payments, offering them a streamlined path to regularise their holdings.
Dedicated Help Desk and Streamlined Process
To facilitate applicants, the LDA will establish a special OTS help desk at the single-window counter on the ground floor of its headquarters. This desk will serve as a central point for providing detailed information, guiding applicants on eligibility criteria, and assisting them with the online application process. The decision was finalized during a review meeting chaired by LDA Vice-Chairperson Prathamesh Kumar on Wednesday.
Under the scheme, applications are expected to be processed and disposed of within three months of submission, ensuring a swift resolution for beneficiaries. The authority has directed officials to prepare a comprehensive list of defaulters and ensure that information about the scheme reaches every eligible allottee through multiple channels.
Key Benefits and Financial Incentives
The OTS scheme offers substantial financial benefits to participants. Beneficiaries will receive a complete waiver of penal interest for the default period, requiring them to pay only simple interest, which will be calculated through specialized software. Additionally, a rebate of 2% will be granted if the full OTS amount is deposited within 30 days of application approval.
For cases where dues exceed Rs 50 lakh, the payment structure is designed to be manageable. One-third of the amount must be deposited within 30 days, with the remaining balance payable in three bi-monthly instalments over a period of six months. A one-month grace period will be allowed for delayed payments, subject to applicable additional interest charges.
Comprehensive Outreach and Coverage
The LDA plans to contact defaulters extensively through phone calls, SMS, and emails via its call centre and IT cell. If any allottee is inadvertently left out, formal letters will be dispatched to ensure no one misses the opportunity to benefit from the scheme.
Vice-Chairperson Prathamesh Kumar emphasized that the scheme will cover a wide range of properties, including:
- Residential and commercial properties
- Properties allotted to government institutions
- Plots designated for schools and charitable organisations
- Auctioned properties
- Properties allotted to cooperative housing societies
He noted that allottees who failed to deposit instalments on time and were consequently charged penal interest will now have the chance to clear their dues and regularise their properties under this initiative.
This OTS scheme represents a significant step by the Lucknow Development Authority to address long-pending dues while providing a fair and structured solution for property allottees, ultimately fostering better compliance and urban development in the region.
