Section 10 in Chandigarh (Sale of Sites and Buildings) Rules, 1960
10. Instalments.
- [Section 3 (2)] - (1) Where the transferee [in case of sale by allotment or auction] [Inserted vide Chandigarh Administration Notification No. UT. 492-F2-72/2488, dated the 17th February, 1972.] intends to pay the sale price in instalments, the balance of sale price together with interest thereon at [six per cent] [Substituted for the figures and words '4½ per cent', - vide Punjab Government Notification No. GSR 217/PA 27/52/S.22/Amd. (3) 66, dated the 19th September 1966.] per annum shall be payable in three equated annual instalments, the first instalment being payable, at the expiry of one year from the date of the payment of 25 per cent under sub-rule (4) of rule 5 or 6, as the case may be. Interest on the balance of sale price (viz., 75 per cent) shall accrue from the date of issue of allotment order but no interest shall be payable if this balance is paid in full by the transferee within 30 days of the date of receipt of allotment order by him.(2)Each instalment shall be remitted to the Estate Officer, [either in cash or by a demand draft] [Substituted for the words 'either by a demand draft or a cheque', vide Chandigarh Administration notification No. UT. 83-F2-70/3827-A, dated the 12th March, 1970.] payable to the Estate Officer and drawn on any Scheduled Bank situated in Chandigarh or at any other place specified by the Estate Officer. Every such remittance shall be accompanied by a letter showing full particulars of the site or building to which the payment pertains or a statement giving reference to the number and date of the allotment letter issued under rule 5. In the absence of these particulars, the amount remitted shall be deemed to have been received and the remitter will be asked in writing to supply correct information within two months of the intimation having been sent to him and no action shall be taken against such a remitter under [Section 8A] [Substituted for the word and figure 'Section 9'. - vide Chandigarh Administration notification No. UT. 2685-F2-76/10483, dated 14th June, 1976.] of the Act, if he sends correct information within a period of two months and can prove that he had sent his instalment in due time.[Provided that in cases of sale of sites by allotment] [Proviso added - vide Chandigarh Administration Notification No. G.S.R. 4 P.A.-27/52/Ss. 3 & 22/Admn. (3)-68/6362 dated the 2nd March, 1968.], the [Central Government] [Substituted for words 'State Government' by the Punjab Reorganisation (Chandigarh) (Adaptation of Laws on State and Concurrent Subjects) Order, 1968.] may for reasons of growth and development of Chandigarh increase the number of instalments for the payment of balance of sale price (other than 25 per cent received along with the application for allotment) from three to five and the period of their payment from three to five years.
