Section 5 in The Haryana Development and Regulation of Urban Areas Act, 1975
5. Cost of development works.
(1)The colonizer shall deposit fifty per centum of the amount realised, from time to time, by him, from the plot- holders within a period of ten days of its realisation in a separate account to be maintained in a scheduled bank. This amount shall only be utilised by him towards meeting the cost of internal development works in the colony. After the internal development works of the colony has been completed to the satisfaction of the Director, the coloniser shall be at liberty to withdraw the balance amount. The [remaining seventy per centum] [Substituted 'remaining fifty per centum' by Haryana Act No. 11 of 2003.] of the said amount shall be deemed to have been retained by the coloniser, inter alia, to meet the cost of land and external development works.(2)The colonizer shall maintain accounts of the amount kept in the scheduled bank, in such manner as may be prescribed.[Provided that where the license under section 3 is granted for setting up a colony for cyber city or cyber park purposes, the provisions of sub-sections (1) and (2) shall not be applicable.] [Added by Haryana Act No. 11 of 2003.]
