Section 11 in Allotment of Land to Educational Institutions (Schools), Etc. on Lease-hold Basis in Chandigarh Scheme, 1996
11. Rent and consequences of non-payment. -
In addition to the premium in respect of the site, the lessee shall pay rent as under:(i)Annual rent shall be 2% of the premium for the first 33 years, which may be enhanced to 3¾% of the premium for the next 33 years and to 5% of the premium for the remaining period of lease.(ii)Rent shall be payable annually on the due date without any demand from the Estate Officer:Provided that the Estate Officer may for good and sufficient reasons extend the time for payment of rent upto six months on the whole on further payment of 6% per annum interest from the due date upto the date of actual payment.(iii)If rent not paid by the due date, the lessee shall be liable to pay a penalty not exceeding 100% of the amount due which may be imposed and recovered in the manner laid down in the Section 8 of the Capital of Punjab (Development and Regulation) Act, 1952 as amended by Act No. 17 of 1973.
