Section 14(1) in Punjab Apartment and Property Regulation Rules, 1995
(1)In case the promoter fails to complete the development works within a period of three years specified in sub-section (4) of section 5, he may make an application to the competent authority in Form APR VI for the renewal of his licence atleast thirty days before the expiry period of the licence and the application so made shall be accompanied by :-(i)a demand draft for a sum calculated at the rate of fifty per cent of the fee prescribed in rule 10 for issuing a licence as renewal fee in favour of the competent authority and drawn on a scheduled Bank;(ii)Income tax clearance certificate;(iii)an explanatory note indicating the details of development works, which have been completed or are in progress or are yet to be undertaken;(iv)reasons for non-completion of development works as required in terms of the licence granted to him; and(v)the licence.
