In its next auction, VUDA will allow joint application for its layouts and also more payment options.
A decision has been taken to permit joint applications keeping in view representations that a single applicant is not able to get bank loans for the entire amount, VUDA Vice-Chairman N. Yuvaraj has said. However, those who go in joint applications can’t apply individually again.
Also, the number of instalments has been three since a long time. Now, it would be five. But, for lump sum payment, some benefit would be given. For more instalments, the payable amount would be slightly higher. The exact method on the payment schedules would be worked out at the time of auction, depending upon the interest rates, Dr. Yuvaraj told reporters on Friday. VUDA had issued a notification for auction on April 20 before the election schedule was announced. However, the approval of the CEO would be sought for the auction, Dr. Yuvaraj said.