India, July 30 -- The Greater Noida authority during a board meeting held on Tuesday approved a one-time settlement (OTS) scheme for allottees of multi-storey flats, measuring up to 121 square metres, including economically weaker section (EWS), low income group (LIG), and middle income group (MIG) categories.

"The scheme offers relief on interest and late fee dues on unpaid premiums and lease deeds. An estimated 2,000 flat buyers stand to benefit. Many of them have faced delays in executing lease deeds due to mounting dues," said the authority's chief executive officer Ravi Kumar NG.

The scheme will remain effective until December 31.

The initiative will help expedite lease registrations and resolve long-pending cases. A formal office...