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[Cites 0, Cited by 0] [Section 8] [Entire Act]

State of Rajasthan - Subsection

Section 8(7) in The Rajasthan Land Revenue (Allotment of Tube-Well Land) Rules, 1968

(7)A sum equivalent to 25% of the auction price shall be deposited in cash by the bidder immediately at the conclusion of the bid, the other 25% of the purchase price shall be paid at the time of delivery' of possession of the tube-well land and the tube-well and the balance shall be paid or deposited in cash or be paid by demand draft on a Scheduled Bank having its branch in Rajasthan within one year from the date of the communication to him of the allotment by the Collector. If the payment is not made in this manner, interest @ 9% per annum will be chargeable on such amount as remains unpaid and in addition, the State Government shall have the power to forfeit the amount received upto that time and to resume the tube-well and the tube-well land without payment of any compensation.