The competent authority shall grant a licence in Form APR V after the promoter has furnished a bank guarantee equal to twenty five per cent of estimated cost of the development works duly certified by the competent authority and the promote has undertaken to enter into an agreement in Form APR IV for the completion of development works as per conditions of the licence so granted and agrees to deposit the service charges as provided under section 32.
Section 13: Grant of Licence.[Section 5(3) and 45(2)(e)
The Punjab Apartment and Property Regulation Rules, 1995.State Rules of Punjab · 1995
Where this provision sits
| Act | The Punjab Apartment and Property Regulation Rules, 1995. |
|---|---|
| Section | 13 |
| Marginal note | Grant of Licence.[Section 5(3) and 45(2)(e) |
| Jurisdiction | State of Punjab |
| Status | In force as published by the source |
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