Allotment/Transfer of built up Booths on lease hold basis in Chandigarh Scheme, 1993 15

Section 15 · Section 15

In addition to the premium, in respect of the built-up booth, the lessee shall pay ground rent as under:-

(i)

(a)

At the rate of 2% per cent annum of the premium for the first 33 years.

(b)

At the rate of 3¾ per cent per annum of the premium for the next 33 years.

(c)

At the rate of 5 per cent annum of the premium for the remaining 33 years.

(ii)

Rent shall be payable annually on due date without demand from the Competent Authority;

Provided that the Competent Authority may for good and sufficient reason, extend the time for the payment of rent upto six months on the whole, on further payment of additional 12 per cent interest on the amount remaining unpaid from the date upto the date of actual payment.

(iii)

If rent is not paid by the extended date, the lessee shall be liable to pay the penalty not exceeding 100 per cent of the amount due which may be imposed and recovered in the manner laid in section 8 of the, Capital of Punjab (Development and Regulation) Act, 1952 as amended by Act No. 17 of 1973).

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