The land will be allotted at the rate of Rs. 15,000/- per square yard but the Administration reserves the right to revise the rate of premium from time to time.
J.
337Allotment of land to the Publishers of the News Papers in Sector 25, Chandigarh, on Le^e-hold basis, Scheme, 19989. Mode of payment of premium and consequences of non-payment nr late payment t -(i) In addition to payment of 25% premium under Bara 7 of the scheme, the remaining 75% premium may be paid in lump sum within 30 days front die date of allotment without any interest,(ti) If payment is not made in accordance with sub clause (i), the balance of 75% premium shall be paid in thicc annual equated instalments along with interest at the rate of 12% per annum or at such higher rate of interest os 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 dare of allotment,(iii) In case any instalment is not paid by the lessee by the date on which it is payable, a notice may be served on the lessee calling upon him to pay the instalment within a period of three months together with a penalty which may extend upto 10% of the amount due. If the payment is not made within rhe said period, the Estate Officer may cancel the lease and forfeit the whole ar any part of the money if paid in respect thereof which, in no case, shall exceed 10% of the total amount or the consideration money, interest and other dues payable in respect of the lease:Provided that forfeiture will not be made in addition to penalty: Provided farther that no order of cancellation or forfeiture shall be made without giving the lessee a reasonable opportunity of being heard. If the order of cancellation is for non-payment of penalty, the lessee may show cause, why the penalty should not be levied.(iv) In case any equated instalment or ground rent or part thereof is not. paid by the lessee by the date on which it became payable he shall be liable to pay In respect of tliat instalment or ground rent or part thereof as the case may, interest calculated at the rate of twenty four per cent per annum Gui n the date on which the instalment or ground rent became payable till such date it is actually paid.(v) Each instalment shall be remitted to the Estate Officer by the prescribed mode of payment. Every such remittance shall be accompanied by a letter showing full particulars of the site to which the payment pertain or a Statement giving reference to the number and the date of the allotment referred to in para 5 (vi ii). In the absence of these particulars, the amount remitted should be deemed to have been received only on die date when the remitter supplies correct and complete information.