Section 5 in The Punjab Town Improvement (Utilisation of Land and Allotment of Plots) Rules, 1983
5. Fixation of reserve sale price.
(1)The reserve sale price in respect of all the residential plots shall be fixed by the Trust in accordance with the guidelines specified [in the Annexure appended to these rules :Provided that after fixation of the said price, the same shall be re-fixed for the subsequent years by the Trust provided there shall be a minimum increase of not less than ten per cent annum in the rates so re- fixed.] [Substituted by Punjab Notification No. G.S.R. 66/P.A. 4/1922/Section 73/Amendment (5)/2006, dated 11.12.2006.](2)The reserve sale price in respect of the multi-storeyed houses shall be the estimated cost of such houses to be determined by the Trust keeping in view the cost of the houses plus the reserve price of the land.(3)[ The reserve price in respect of commercial plots in a scheme shall be fixed by the Trust, which shall not be less than double of the price so fixed for the residential plots under sub-rule (1) :Provided that after fixation of the said price, the same shall be re-fixed for the subsequent years by the Trust provided there shall be a minimum increase of twenty per cent per annum in the rates so re-fixed or part thereof on proportional basis in case any auction is held before a period of one year :Provided further that the Trust may fix the said price lower that the prices as fixed above, with the prior approval of the Government, for the reasons to be recorded in writing :Provided further that the said price shall not in any case be less than the price already fetched by the Trust in immediate previous auction in that scheme.] [Substituted by Punjab Notification No. G.S.R. 66/P.A. 4/1922/Section 73/Amendment (5)/2006, dated 11.12.2006.](4)[ The reserve sale price in respect of the land reserved for institutional purposes shall be fixed by the Trust in accordance with the guidelines specified in the Annexure appended to these rules, except that unforeseen charges at the rate of fifteen per cent shall not be taken into consideration while working out the reserve sale price : Provided that in case any unforeseen charges are incurred by the Trust the same shall be recoverable from the concerned institution.] [Omitted by Punjab Notification No. G.S.R. 36/P.A. 4/22/Section 73/Amd. (3)/2005, Dated 13.12.2005. Omitted sub-section read as.]
