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Home > Forum > Noida > Real estate News > Noida Authority to increase Penalty

Noida Authority to increase Penalty

Q: Noida Authority has decided to increase penalty for late payments- Discuss!!

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Replies (2)
1
There are talks to increase the penalty from the currently 14 % to 18%. the authority says that its seeing a large number of defaulters and that which is not because of financial crisis but due to lethargy and it wants to penalize it.
Yogita Bali


This penalty will directly effect industrial units, residents and real estate developers and so the authority should first hold talk with them before implementing any such hike
Yogendra,  Noida
14th May 2014


2
Well the Noida authority is trying to get more funds for the infrastructural development fund by increasing the penalty.. but the flip side is that the amount is high and so getting negative responses.
Sekhar


Well this increase in penalty has not been finalized yet, its not even discussed by the board.. it is just an idea as of now and will take more than 3 months to implement or even start being on papers.
Daniel,  Noida
14th May 2014


3

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