Section 10 in Chandigarh Milk Colony Allotment of Sites Rules, 1975
10. Payment of premium and consequences of non-payment or late payment.
(1)In addition to payment of 25 per cent premium under rule 7, the remaining 75 per cent premium may be paid in lump sum within 30 days from the date of allotment without any interest.(2)If payment is not made in accordance with sub-rule (1) of this rule, the balance of the 75 per cent premium shall be paid in five annual equated instalments along with interest at the rate of 7 per cent per annum or at such higher rate of interest as may be fixed by the Chief Administrator by notification in the official gazette before the commencement of the lease. The first instalment shall become payable after one year from the date of allotment.(3)In case any instalment is not paid by lessee by the due date, the lessee shall be liable to pay instead of the interest referred to in rule 10 (2), interest at the rate of 12 per cent per annum on the amount remaining unpaid for the period of default. If the payment is not made within three months in all, from the date on which the instalment was originally due, the Estate Officer may cancel the lease and forfeit an amount not exceeding 10 per cent of the whole of the premium payable and the whole of the rent already paid in respect of the lease.(4)Each instalment shall be remitted to the Estate Officer by the prescribed mode of payment. Every such remittance shall be accompanied by a letter showing full particulars of the site to which the payment pertains or a statement giving reference to the number and date of the allotment. In the absence of these particulars the amount remitted shall be deemed to have been received only on the date when the remitter supplies correct and complete particulars referred to in this rule.
