Unpaid service charges by residents living in 56 colonies of the Maharashtra Housing and Area Development Authority (MHADA) for the last 23 years has put a dent in the authority's cash flow. It has hampered the financial position. Therefore, now after so many years, it has finally decided to do the recovery. However, the debt recovery process can be challenging and time-consuming therefore to overcome this issue MHADA is offering an easy installment facility.
The service charge is fees taken in lieu of various types of facilities provided by MHADA such as maintenance of water pumps, salaries of housekeeping staff in these housing colonies among others.
To ensure easy recovery of unpaid arrears under the Abhay Yojana scheme it is offering ten easy installment payment facility with 8 per cent interest rate. Those who have pending payments can opt for this facility and complete the payments in five years time period. While those who will make a full payment without availing of the installment facility will not be charged the additional interest rate, the MHADA official informed.
The MHADA owned 56 colonies are spread across the city and occupy prime real estate properties. Around 76,000 families live in these colonies. Most of these buildings were built between the 1960s and 1990s and are in dire need of redevelopment reportedly.