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In accordance with the Affordable Housing Policy, 2013:
A waiting list for up to 25% of the total apartments will be maintained for two years. If any successful applicant surrenders an apartment, Rs. 25,000 will be deducted as per the Affordable Housing Policy amendment of 2019.
Failure to pay installments within 15 days of notice may result in cancellation. The following forfeiture charges will apply based on project timelines:
Time Period | Amount to be Forfeited |
---|---|
Before project commencement | Nil |
Within 1 year of project commencement | 1% of flat cost |
Within 2 years of project commencement | 3% of flat cost |
After 2 years of project commencement | 5% of flat cost |
Once allotted, apartments cannot be transferred for one year post-possession. Any breach will incur a penalty of 200% of the selling price, payable to the Town and Country Planning Department's fund.
For more details, visit our FAQ page.