(1) The lease amount of the site to be allotted on lease basis shall be fixed by the authority, provided the value of the Civic Amenity site per Sq. Mtr. shall be fixed at not less than the Market value per Sq. Mtr. of the residential site in the layout.
(2) The lease amount may be paid in five annual instalments during the lease period by Central or State Government Department, Local Authority or Statutory bodies subject to collection of interest at the rate of the prime lending rate of State Bank of India with the prior approval of the Authority.
(3) The lease amount of a Civic Amenity site notified while inviting applications may be altered by the Authority and the institutions may accept the site at the altered rate or decline allotment.
(4) Allotment may be made at fifty percent of the lease amount fixed by the Authority in the following cases only, namely:-
(a) Institutions established for the welfare of physically handicapped and mentally retarded, Scheduled Caste and Scheduled Tribes;
(b) Educational institution run in only Kannada medium approved by the Government; and
(c) The Central or State Government departments, Local authority and Statutory body providing amenities for the purposes listed under item (a) of sub clause (1) of clause (C) of sub-rule (1) of rule 2.