Hey,
As far as I know, YEIDA failed to transfer the plots due to a land dispute between the authority and farmers. Plot owners were therefore unable to run registries.
Plot allocators have been contesting the authority's decision to start charging late registries a penalty of about ₹50,000 since 2013. According to officials, the YEIDA has finally given in to the allottees' demands, cancelled the fine, and urged them to register their plots by the end of June this year.
However, YEIDA officials cautioned that if plot allocators put off registering their plots even after the revised deadline, the buyer would be subject to penalties. In the first month, the fine will be 1% of the entire plot cost, and in the second, it will be 2%.
If your builder postpones giving you possession of your property, you have two options: submit a claim under the RERA Act of 2016 and serve legal notice on the builder, or move their case from a CDRC to the State Real Estate Regulatory Authority. In accordance with the RERA Act, a builder who delays the possession of apartments must pay 10% interest on the property's worth.
Read More: What is possession delay penalty as per RERA?Your Feedback Matters! How was this Answer?
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Authors Of The Question
What can be done if there is a delay in giving possession of plot by YEIDA?
S S Gangwar
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1 Answers
1 Year
2023-02-13T09:41:29+00:00 2023-02-13T10:18:51+00:00Comment
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