Section 11A in Chandigarh (Sale of Sites and Buildings) Rules, 1960
11A. [ [Substituted for Rule 11A, - vide Chandigarh Administration Notification No. 2840-UT. F-2-73/7765, dated 18th June, 1973 and applicable to hire- purchase agreements under the Allotment of Booths on Lease and Hire-purchase Basis to eligible shopkeepers of Nehru and Shastri Markets in Chandigarh Scheme, 1972, notified in the Chandigarh Administration Gazette No. UT. 1443- F2-72/3559, dated the 6th March, 1972 and other hirers mentioned in the Notification, dated 18th June, 1973.]
(1)The total amount of rent determined under rule 6B together with interest thereon at the rate of 6 per cent per annum shall be payable in 144 monthly instalments as under ;-(i)First thirty instalments at the rate of Rs. 6 per Rs. 1,000 on the reserve sale price; and(ii)114 equated instalments of the remaining amount together with interest thereon at the rate of 6 per cent per annum.(2)The first instalment shall be payable on the date of execution of the hire-purchase agreement prescribed under rule 6D.(3)Interest shall accrue from the date of the issue of allotment order.]
