Section 7(1) in The Punjab Town Improvement (Utilisation of Land and Allotment of Plots) Rules, 1983
(1)The sale price of the residential plots shall be recoverable as under :-(i)25 per cent of the sale price including earnest money at the time of allotment;(ii)remaining 75 per cent of the sale price in five six monthly equated instalments with simple interest at the rate of ten per cent per annum;Provided that in case of allotment of plots up to 200 square yards size to Freedom Fighters and Political Sufferers, the recovery of the remaining 75 per cent shall be effected in ten six-monthly equated instalments and the rate of interest shall be eight per cent per annum :[Provided further that in the case of allotment of plot to a Non- Resident Indian, the sale price shall be recoverable in lump sum in foreign currency.] [Second proviso added by GSR 53/P.A. 4/22/Section 73/Amendment(1)/84, dated 28.5.1984.]
