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NCT Delhi - Section

Section 8 in The Delhi Development Authority (Management And Disposal Of Housing Estates) Regulations, 1968

8. Manner of payment of disposal price.

(1)When a property is disposed of by sale, every applicant shall deposit a sum equal to 20 per centum of the disposal price of the property rounded to the next hundred along with the application. Such deposit shall be non-interest bearing.
(2)An applicant to whom the property has been allotted shall have to pay the balance amount of the disposal price (i.e., after adjusting the deposit) within such period as may be specified in the allotment letter.
(3)If the applicant fails to pay the amount within the said specified period, the allotment shall be cancelled and a sum of money equal to 20 per centum of the deposit shall be forfeited and the balance refunded.
(4)In the case of such applicants as have not been allotted any property, the deposit specified in sub-regulation (1) shall be refunded.
(5)The Authority shall have the sole and exclusive right over the deposit till it is adjusted or refunded with or without deduction as provided in these regulations.