Amendment status not verified — confirm the current text below against the official source.
Cost calculation and construction of house, etc.— (1) The cost of the plot allotted shall be final and payment thereof made in one lumpsum within a period of 25 Manual of Goa Laws (Vol. II) – 603 – Housing Board Act & Rules days of the receipt of the order of allotment under the foregoing regulations. Delayed payment shall be subject to penal interest at such rate as may be decided by the Board. (2) The allottee shall construct a house or flat or bungalow over the allotted plot within a period of three years from the date of allotment, failing which the plot shall be reverted to the Board and the cost refunded to the allottee without payment of any interest thereof: Provided that on an application made in this behalf and for reasons to be recorded in writing, the Secretary of the Board may extend the period to construct a house to a maximum period of 10 years on payment of composition fee/penalty for delayed construction as under:— a) After 3 years and less than 5 years 1/2 % of the cost of the plot b) After 5years and less than 7 years 1% of the cost of the plot c) After 7 years and less than 8 years 2% of the cost of the plot d) After 8 years and less than 10 years 3% of the cost of the plot If the allottee fails to complete the construction of house/bungalow within 10 years, the plot shall stand reverted to the Board and the initial deposit paid by the allottee shall be forfeited and the balance be paid to the allottee without any interest. (3) The allottee shall prepare the construction plan of the house/bungalow with minimum 30% ground coverage of the plot area, keeping in mind these aesthetic point of view, on the basis of ground coverage, control of height and roof, rather than on the basis of Floor Area Ratio as prescribed for such area by the Board and obtain a “No Objection Certificate” from Board before submission of plans to the Municipal Council or the Village Panchayat as the case may be: Provided that the Board may consider execution of sale deed towards the transfer of the allotted plot after violation of the condition of obtaining “No Objection Certificate” from the Board before submission of plan to the Municipal Council or Village Panchayat, if the construction carried out is as per the approved building bye-laws, on payment of penalty of 5% of the cost of the plot. (4) The construction of house/flat/bungalow shall be in accordance with the plans approved by the Municipal Council or the Village Panchayat, as the case may be, under the Rules and Regulations in force in the locality concerned. (5) The allottee shall execute a conveyance deed towards the transfer of the allotted plot within 30 days of the construction of the house/flat/bungalow. Till such time as the conveyance deed is not executed, the allotment of plot shall for all intents and purpose, be allotment simplicitor for the purpose of construction of house.