There is news of big relief for property related defaulters in Uttar Pradesh. One Time Settlement (OTS)-2026 scheme has been approved in the cabinet meeting chaired by Chief Minister Yogi Adityanath. The objective of this scheme is to recover the long outstanding amount and to give the defaulting allottees an opportunity to regularize their property by making a lump sum payment.
The government believes that this scheme will provide relief to thousands of people and the state development authorities will be able to get a huge amount back.
18,982 defaulter cases will get solution
According to government data, 18,982 defaulter cases related to properties are pending in development authorities and related institutions. An amount of approximately Rs 11,848 crore is outstanding in these cases. Apart from this, about Rs 1,482 crore is stuck in 545 cases related to map approval.
Efforts will be made to resolve all these pending matters through the OTS-2026 scheme. The government hopes that through this initiative a large amount of stuck revenue will be recovered.
The scheme will be applicable on all types of properties
The scheme will be applicable to properties belonging to state development authorities, housing and development councils and special area development authorities. This will include residential, commercial and other allotted properties.
Apart from this, properties given through auction or allotment process will also come under the purview of this scheme. This scheme will also be applicable on properties allotted to government institutions, schools, charitable organizations and other institutions.
Penal interest completely waived, only simple interest to be paid
The biggest feature of the OTS-2026 scheme is that it has given huge relief to defaulters. Under the scheme, penal interest will be completely waived off and only simple interest along with the outstanding amount will have to be deposited.
The government believes that with this, even those people who were not able to pay due to rising interest for a long time, will be able to pay their dues.
Facility to pay in installments also
Payment arrangements have also been decided in the scheme. If the amount payable after OTS is up to Rs 50 lakh, then one-third of the amount will have to be deposited within 30 days of the issue of demand letter and the remaining two-thirds can be deposited in three monthly installments.
If the amount payable is more than Rs 50 lakh, then one-third of the amount will have to be deposited in installments within 30 days and the remaining two-thirds within six months.
You will get a chance to apply for three months
Applications can be made for the OTS-2026 scheme for three months, and the applications will also be disposed of during the same period. The government will send information about this scheme to the defaulters through email, SMS and letter so that more and more people can take advantage of it.
Experts believe that this scheme will not only provide relief to the people but can also prove helpful for the state government in increasing revenue and taking forward the stalled projects.
Also read – Development work worth up to Rs 5 crore will be done in every assembly constituency in UP, CM asked for proposals from public representatives.
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