PDA launches OTS to help defaulters clear dues

Prayagraj: The Prayagraj Development Authority (PDA) has announced a major relief for hundreds of allottees under its housing and plot schemes by introducing the One-Time Settlement (OTS) scheme for clearing long-pending dues.

According to the officials, a total of 317 defaulters have outstanding dues of around Rs 41 crore. The defaulters include individuals who had purchased flats or plots under various PDA schemes but have failed to pay the instalments. As a result, interest kept accumulating, and in many cases, the compounded interest has now reached a level almost equal to the original cost of the properties.

Officials said that in several cases, registry of plots was completed, but the freehold process remained pending, leading to further delays in payments and accumulation of penalties. Over time, the dues kept increasing significantly, leaving both the authority and allottees in a difficult situation.

To resolve the issue, PDA has now rolled out the OTS scheme, offering substantial relief to the defaulters. Under the scheme, penal interest will be completely waived, and the remaining principal amount can be paid in six to seven instalments. However, officials clarified that extending the number of instalments beyond the prescribed limit will reduce the benefits available under the scheme.
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