Yesterday I met Shri. Arun Vir Singh, CEO, Yamuna Expressway Authority. Spoke to him regarding penalty for late registration and late construction. He informed that the authority has NOT YET finalized the penaltys and promised to be lenient. He also said the details of both kind of penaltys will be uploaded on the authority’s website before September end.
He was also very upset from the news/complaints he had received from various allottees regarding the random messages they have been getting from various property dealers and construction companies sending false and misguiding information regarding late registration penalty and late construction penalty.
So, please don’t get misguided by all sorts of messages and calls you may have been receiving regarding these penalties. Please wait for official announcement by the authority.
That said, just for your information, late registration and late construction attracts 4% penalty for the first year, 6% penalty for the second year and 8% penalty for the third year. The penalty is calculated at original allotment rate.
Shall update whenever I have further information regarding these issues.
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