Capitalised Scheme for one-time payment of Ground Rent
General Conditions for payment of Ground Rent
As per terms and conditions of allotment, ground rent is payable annually in advance @ 2.5% of the cost of land as given in the Allotment cum Demand Letter in respect of all allotment on lease hold basis. In case of default in making the payment of Ground Rent by the stipulated date, the allottee is liable to pay interest at the rate of 10% per annum or at the rates to be revised from time to time. The Ground Rent is payable till such time the property remains on lease hold basis. Once the property is converted into free hold, the Ground Rent is not payable.
All allotttees on "Hire Purchase Basis" are liable to pay Ground Rent till the execution of conveyance or Capitalized Value under the special scheme is paid to DDA.
Once the capitalized value of Ground Rent is paid to DDA, all previous dues of Ground Rent and/or interest thereon, if any, would not require to be paid
Liberalized Scheme for payment of Ground Rent
For the benefit of general public and to provide allottee friendly service, a simple and easy system to clear the dues of ground rent, one time payment has been introduced under the scheme "Capitalized Ground Rent" Under this scheme, allottee is required to pay 12% of cost of land as indicated in the allotment cum demand letter on account of unpaid and future dues of ground rent as capitalized value of Ground Rent and thereafter is exempted to pay ground rent in future.
The scheme is optional
The allottee who does not opt for the "Capitalized Ground Rent" would continue to pay the ground rent as per original terms and conditions of the allotment cum demand letter