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Wednesday, 11 November 2020

NUCA waives fines on late installments for one month

Property owners are getting a one-month reprieve from late payment fines for properties developed by the New Urban Communities Authority (NUCA), the Housing Ministry said in a statement. The grace period, which applies to homes, offices, retail space and plots of undeveloped land of all sizes, will be granted to those who pay all their installments in full, the ministry said. Individuals whose ownership deeds have been scrapped due to late payment but are still in possession of the property are also eligible for the waiver, but must agree to forego any legal action against the NUCA.

Who it doesn’t apply to: Owners of land or property that has been repossessed by NUCA, land that is jointly owned, or people who made payments before the decision was issued. NUCA had previously granted grace periods, as well as waivers of usufruct fees, to help individuals make payments on time in light of the economic downturn caused by covid-19.

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