Section 6(5) in The M.P. Nagar Tatha Gram Nivesh Vikasit Bhoomiyo, Griho, Bhavano Tatha Anya Sanrachanao Ka Vyayan Niyam, 1975
(5)If the offer to acquire a plot in lease hold rights is accepted by the Chairman in the case of Authority plots or by Government in the case of Government or Nazul the balance of premium shall be deposited with the Authority within 30 days of the communication of the acceptance of the offer, except in the cases where payment of the balance of the premium is agreed to be made in instalments as prescribed by any general or special order. In the latter case, the lessee shall pay interest at 7 per cent per annum on the outstanding balance of the premium calculated from the date on which it fell due till the full payment is made, but the Authority or Government may in its discretion change such rale of interest as it may deem lit.
