Allotment of Subsidized Industrial Houses on Lease and Hire Purchase basis in Chandigarh Scheme, 1979 5

धारा 5 · Section 5

Only a person who has been allotted with an industrial house under the Punjab Industrial Housing Act, 1956 and the rules framed thereunder, shall be eligible for allotment on lease-hold and hire purchase basis of an industrial house under this scheme subject to the following conditions, namely:-

(a)

The applicant must be residing in the industrial house;

(b)

[ The allotment of industrial house in favour of applicant under the Punjab Industrial Housing Act, 1956 and the rules framed thereunder has not been cancelled under the said Act and rules except on the ground that his wages had exceeded the income ceiling of Rs. 500 per mensem.] [Substituted vide Chandigarh Administration notification dated 12.8.1990.]

(c)

There are no arrears of rent in respect of the industrial house ;

(d)

The applicant does not own, whether on fee-hold, lease-hold, or hire purchase basis a residential house or a site in Chandigarh or in any of the Urban Estates of Mohali or Panchkula, in his own name or in the name of his spouse or any of his dependent relations including un-married children.

(e)

(i)The sale shall either be an outright one: or (ii) by recovery of 30% of the premium in lump sum at the time of transfer and the balance cost will be recovered in 15 yearly instalments with interest at the rate of 5 per cent or as fixed by the Government of India from time to time; or

(ii)if a purchaser cannot pay even 30 per cent of the premium, he may be permitted to make payment of whole premium in 15 yearly instalments with interest at the rate of 5 per cent or as fixed by the Government of India from time to time.

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