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In a significant move by the City and Industrial Development Corporation (CIDCO), the deadline for payments under the Mass Housing Scheme 2018-19 has been extended to January 10, 2024. This decision, announced recently, comes as a relief to numerous applicants who have been struggling to meet the initial payment deadlines for their housing tenements.
CIDCO, the primary city planning authority, has offered this final extension in response to numerous requests from applicants who have found themselves unable to complete payments. This extension is particularly significant as it includes not only the principal amounts but also any delayed payment charges that have accrued. The decision underscores CIDCO’s commitment to assisting citizens in securing their dream homes.
The Mass Housing Scheme, launched in 2018-19, aimed to provide affordable housing options to a broad segment of the population. However, several allottees have faced difficulties in fulfilling their financial commitments, resulting in partial payments or non-payments of the required instalments. This scenario threatened their continued eligibility and risked the cancellation of their allotments under the scheme's terms.
The extension applies to defaulting applicants who received their allotment letters between 2019 and 2022. They are now required to pay the remaining instalments along with any delayed payment charges by the new deadline. It's a move that balances compassion with practicality, acknowledging the financial challenges faced by many, while also maintaining the integrity and financial viability of the housing scheme.
CIDCO has clarified that failure to meet this extended deadline will result in the cancellation of the allotment. In such cases, the deposited amounts will be returned after deducting 10% of the instalments paid. This clause underlines the finality of the new deadline and the importance of adhering to it.
In conclusion, CIDCO's decision to extend the payment deadline offers a crucial lifeline to many aspiring homeowners. It reflects a sensitive approach to urban planning and development, prioritizing the needs and realities of the citizens. As the new deadline approaches, it remains imperative for the applicants to capitalize on this extension to secure their homes and fulfil their aspirations.
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