Section 6 in The Punjab Allotment of State Government Land Act, 2016
6. Mode of recovery of Price of land.
- Where any land has been allotted to an occupant, twenty five per cent of the total consideration shall be deposited at the time of issue of letter of intent and the balance price shall be paid by the allottee in ten interest-free six-monthly installments. However, for any delayed installment, interest at the rate of twelve per cent per annum shall be recovered for the period of delay.In the event, an allottee wants to deposit the entire amount at the stage of the allotment itself, a discount of ten per cent of the overall consideration shall be admissible to him.
