General Self Financing Housing Scheme-2008

Chandigarh, 25^th October, 2016: The Chandigarh Housing Board constructs and allots dwelling units to various categories of allottees on the land allotted to CHB for the purpose of construction and allotments of dwelling units.

                   The Chandigarh Housing Board floated the General Self Financing Housing Scheme-2008, Sector-63, Chandigarh on 31/03/2008. The price and mode of payment was mentioned in the brochure of the said housing scheme of 2008. The Chandigarh Housing Board issued Acceptance-cum-Demand-Letters (ACDL) to the successful applicants of the said Scheme. In the ACDL, the terms and conditions regarding payment of price were mentioned. Clause 8 of the ACDL provided as under: -

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8.     The schedule of payment shall be strictly adhered to. THE INSTALMENT SHOULD BE DEPOSITED IN FULL ALONG WITH INTEREST AT THE PRESCRIBED RATE, IF ANY DUE, ON ACCOUNT OF DELAYED PAYMENT. No separate letter will be issued for any of the installments to be paid by the allottee. It will not be obligatory on the part of the Board to issue ‘Reminder’ for making payment on the due date, as already specified in the schedule of payment mentioned above.

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                   However, it has come to notice that in some cases, the applicants/allottees have not paid the complete/full installments as per the terms and conditions. They have paid part of the installment or paid in part instead of paying the full installment. The Board has calculated the penal interest as per clause 5 of the ACDL on the whole amount of the installment instead of on the unpaid amount of the installment.

Many allottees of General Self Financing Housing Scheme-2008, Sector-63, Chandigarh have represented that since the installment(s) were not paid in full and the interest/penal interest was/were calculated on the full amount of the installment(s) instead of the unpaid amount of instalments, they have to pay substantial amount of money as interest/penal interest, which would not have been the case, had the calculations  been made on the unpaid amount of installment(s). There have been many cases where the allottees had to pay a large amount as interest/penal interest on the full amount of the installments instead of the due amount of the unpaid installment.

Keeping in view the above and on the persistent demand of the general public and in the interest of public service, and in order to facilitate the delivery of services to the general public, CHB has decided to calculate the penal interest upon the unpaid due amount of the installments instead of on the whole amount of installment.

This will benefit almost each and every allottee of the General Self Financing Housing Scheme-2008, Sector-63, Chandigarh, since almost each and every allottee had at some time or other, by mistake or otherwise, failed to pay the full due amount of the installment(s).