Many friends are worried about penalty if they don't pay any installment in 36 months for Prism.
Here is the simple calculation, if you don't pay for 3 years, not even a single installment the final value immediately after 3 years will be 1.35 X Total development charges.
For example for 1 Kanal = 1.35 x 19.5 = 26.325 Lac (total to be paid after 36 months = 6.8 lac penalty )
Mustafa replied on Monday, March 7, 2016 05:03 PM
The penalty on Prism is lower when compared to penalties charged on previous phases. The penalty is based on a 10 percent rate, which is reasonable when compared to the previous 20 percent daily compounded rate. |
Question replied on Monday, March 7, 2016 05:42 PM
@ Mustafa
Please share if you have any personal official letter from DHA
stating you have to pay 10% interest rate
the letter i have received for develpoment charges stating interst rate of 20% |
Jameel Mughal® replied on Monday, March 7, 2016 05:58 PM
Mustafa it is 20% Annualized Compounded in prism may be it 10% for army.
Shahzad Qamar your calculation is correct people either usually pay regularly or defer till hand Over when Max gain is expected, If hand over is say at 8 years then due amount will be 19+66=85 Lac.
People should not remain in darkness that fine will be only nominal. |
Mustafa replied on Monday, March 7, 2016 06:06 PM
Well if it is still at 20 percent, everyone holding a plot should make sure to pay the installments. |
