Section 16 in Nagpur Improvement Trust Land Disposal Rules, 1983
16. [ Time for making payment of premium. [Substituted by Nagpur Improvement Trust Land Disposal (Amendment) Rules, 1991]
(1)Half the amount of the premium shall be paid within 30 days of the allotment of the land which shall be extended by the Chairman up to a period of 6 months on payment of 15 per cent interest per annum on the amount of premium payable by the allottee.(2)the balance of the premium shall be paid within 30 days from the date of the payment of half the amount of the premium as provided in sub-rule (1).Provided that, the Chairman, may grant extension of time for payment of the balance amount up to a maximum period of 18 months on payment of interest equal to 15 per cent per annum.]
