In a significant policy shift, the Uttar Pradesh estate department has introduced stringent penalties for property owners who delay their dues, imposing a staggering 9.15% annual interest rate on overdue payments exceeding four months. This move aims to enforce timely payments among occupants in the state's 52 government colonies, including notable areas in Lucknow. While officials acknowledge maintenance issues like irregular water supply and seepage in Dalibagh Colony, they emphasise that prompt payment is essential. An online payment system has been in place to streamline processes and mitigate ongoing challenges in property management.
In a move that could affect property owners accustomed to paying dues after the deadline, the Uttar Pradesh government's estate department has introduced stricter penalties. As per new directives issued on Thursday, an annual interest rate will now be applied to those defaulting for four months or more. This recalculation will see a hefty 9.15% annual interest rate imposed on overdue amounts, signalling a strong push to encourage timely payments. This decision might resonate with similar strategies seen in other real estate developments, like how timely payments are crucial for sustaining project momentum in regions like Indirapuram or Greater Noida.
Estate Officer Pawan Kumar Gangwar indicated that the annual interest rate would be adjusted based on the SBI EBLR (External Benchmark Linked Rate), with recovery notices issued accordingly. He noted that individuals who made their payments on time would not have to pay any additional interest. The estate department, responsible for managing around 7,000 residential units, had introduced an online payment system a year prior to streamline the payment process. It oversees 52 government colonies in Lucknow, including prominent areas like Kalidas Marg, Raj Bhavan Colony, Gautampalli, Gulistan Colony, and Butler Palace. Furthermore, the department maintains the secretariat buildings, state guest houses, and MLA hostels.
An occupant of Dalibagh Colony highlighted the ongoing issues, stating that the condition of their colony had deteriorated over the past decade due to a lack of regular maintenance. They mentioned that the water supply was irregular, particularly affecting residents on the upper floors, and noted that water seepage in the walls was a common issue. In response, a department officer acknowledged the maintenance problems, indicating that some colonies, which are leased at a nominal monthly rent, were overdue for maintenance. However, the officer emphasised that timely payments are mandatory for all occupants. They mentioned that a list of defaulters who had not made their payments was currently being compiled and that fresh recovery notices would be issued to them.
The Uttar Pradesh government's estate department has introduced stricter penalties to enforce timely payments, imposing a 9.15% annual interest rate on dues overdue for four months or more. This initiative, aligned with similar strategies in other regions, aims to ensure financial discipline and improve maintenance standards. While the department strives to enhance living conditions across its managed colonies, residents emphasise the need for regular upkeep. The new measures underline the importance of prompt payments, with recovery notices set to be issued to defaulters.
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