Section 5(3) in The Punjab Town Improvement (Utilisation of Land and Allotment of Plots) Rules, 1983
(3)[ The reserve price in respect of commercial plots in a scheme shall be fixed by the Trust, which shall not be less than double of the price so fixed for the residential plots under sub-rule (1) :Provided that after fixation of the said price, the same shall be re-fixed for the subsequent years by the Trust provided there shall be a minimum increase of twenty per cent per annum in the rates so re-fixed or part thereof on proportional basis in case any auction is held before a period of one year :Provided further that the Trust may fix the said price lower that the prices as fixed above, with the prior approval of the Government, for the reasons to be recorded in writing :Provided further that the said price shall not in any case be less than the price already fetched by the Trust in immediate previous auction in that scheme.] [Substituted by Punjab Notification No. G.S.R. 66/P.A. 4/1922/Section 73/Amendment (5)/2006, dated 11.12.2006.]
