Section 47(iii) in The Delhi Land Reforms Rules, 1954
(iii)In case of Gaon Panchayat decides to admit any person as a Bhumidhar to any land under Section 73, the lease shall be given by auction, the auction money being treated as premium. The bidding shall be done class-wise in the order of preference mentioned in Section 75 of the Act. The bid of the highest bidder shall be accepted subject to his depositing ¼th of the premium money at the fall of the hammer. The remaining ¾th shall be deposited within 15 days of the approval of the bid. In case the ¾th amount is not deposited within the aforesaid period, the advance shall stand forfeited and the bid of the near highest bidder shall be accepted subject to his consent. If the next highest bidder fails to agree of if he defaults in depositing the amount in the aforesaid manner the auction shall stand set aside and a fresh auction shall beheld.
