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Punjab state cabinet headed by CM Captain Amarinder Singh, approved the Punjab Urban Development Authorities ‘Amnesty Scheme- 2021’ on March 31, 2021. This scheme is planned for recovering the due amounts of installments from the allottees of flats, residential, commercial, industrial plots and chunk sites. Through this scheme the state government expects to recover the dues amounting to Rs. 700 crores. The properties under this scheme will be all those sold through draw of lots, auction or any other process.
Scheme Overview:
| Scheme name: | Amnesty Scheme |
| Scheme Under: | Punjab Government |
| Approved On: | March 31, 2021 |
| Beneficiaries: | Allottees of flats, residential, commercial, institutional and industrial plots and chunk sites who have defaulted the payment of instalments |
| Amount aimed to be recovered: | Rs. 700 crores |
| Objective: | To recover the due installment amounts from the defaulted allottees |
More scheme lunched by Punjab Government
Scheme Objectives and Benefits:
- The main objective is to recover the due amounts of installments from the allottees
- It will enable a chance to the allottees to clear their dues
- It aims at recovering about Rs. 700 crores from the defaulted allottees
- This scheme will also help the civic body to get revenue
- It will tend to revive the economy with the clearance of defaulted amounts
Key Points:
- Amnesty scheme-2021 is approved by the Punjab state cabinet headed by the CM Captain Amarinder Singh on March 31, 2021
- Under this scheme all the defaulted allottees of residential and commercial plots and flats who hadn’t paid the installment amounts on time will be covered
- This scheme will be implemented under the Punjab Urban Development Authorities
- Dues will be collected from the defaulted allottees of residential, commercial, institutional and industrial plots and chunk lands
- These properties might be sold through draw of lots, auction or any other process
- The defaulted allottees who have been cancelled due to non-payment of 1 or more installments due after December 31, 2013 or litigation will also be covered and these allottees can deposit the principal amount along with the rate of interest applied
- The cancelled allotments will be revived and will be considered as if those were not cancelled
- The forfeited amounts in such cases will be considered as credited to the allottees accounts on the date of forfeiture
- This scheme will enable the civic bodies to recover the dues as revenue thereby reiving the economy to an extent with clearance of defaults
- Through this scheme the state government aims to recover the dues amounting to Rs. 700 crores
