Section 9 in The Maharashtra housing and Area Development (Disposal of Land) Regulations, 1982
9. Payment of premium.
(a)A person, whose tender or offer for grant of a lease on payment of premium is accepted, shall pay half of such premium within fifteen days of the acceptance of his offer and the balance within one month thereafter. The Chief Executive Officer, may, in his absolute discretion, grant extension of time for payment of the balance premium upto a maximum of six months of the date of acceptance on payment of interest for the extended period at the rate of 12 per cent. per annum or at such other higher rate as may be determined by the authority from time to time.(b)Whenever a lease shall be granted in consideration of premium, the ground rent shall be payable annually in advance without any deductions whatsoever, on or before the 10th day of January in each and every year, at the rates to be determined by the Authority from time to time.
