(1) For the purpose of sub-clause (ii) of the proviso of clause (h) of sub-section (2) of section 3 and sub-section(9) of section 5, a person whose family income from all sources does not exceed two thousand six hundred and fifty rupees or such other income limit, as may be fixed by the Competent Authority from time to time, keeping in view the income limit, fixed by the Planning Commission of Government of India, for low income group housing, shall be deemed to be a person belonging to the economically weaker sections of society.
(2) No person belonging to the economically weaker section of the society shall be eligible for allotment of a residential apartment or a residential plot in a colony if,-
(i) he or she himself or his or her spouse or minor child owns a free hold or lease-hold or on hire-purchase basis a residential plot or a residential building in the Union Territory of Chandigarh or in any Urban Estate in the State of Punjab or in a colony developed under the Punjab Regulation of Colonies Act, 1975 or under the Act or under a housing scheme of the Punjab Urban Planning and Development Authority or a local authority including an Improvement Trust;
(ii) he is less than eighteen years of age on the date the applications are invited for such allotment; and
(iii) his family income from all sources exceeds the income limit specified in subrule (1).
(3) If the total number of residential apartments is one hundred or more in any building, ten per cent of such apartments and, if total area of a colony is forty hectares or more, ten per cent of the area under residential plots or houses shall be reserved for being sold or leased to the eligible persons belonging to the economically weaker sections of the society.
(4) The constructed size of the apartment or the area of plot to be reserved for being sold or leased to the persons belonging to the economically weaker sections of the society, shall not be less than twenty square metres and more than forty square metres in the case of the apartments and shall not be less than forty square metres and more than ninety square metres of the plot in the case of the colony or such area, as may be determined by the competent authority from time to time with the prior approval of the State Government.