Section 10(ii) in Allotment of Land to Educational Institutions (Schools), Etc. on Lease-hold Basis in Chandigarh Scheme, 1996
(ii)If payment is not made in accordance with sub-clause (i), the balance of 75% premium shall be paid in three annual equated instalments along with interest at the rate of 10% per annum or at such higher rate of interest as may be determined by the Administrator by a notification, in the Official Gazette, before the commencement of the lease. The first instalment shall become payable after one year from the date of allotment.
