Amendment status not verified — confirm the current text below against the official source.
In the event of a person or persons not accepting offer of allotment and failing to comply with the prescribed formalities within two months of issue of the allotment latter, the property shall be allotted to the person or persons next falling on the waiting list in the serial order or the Application Register provided the eligibility criteria is satisfied. CHAPTER IV TERMS AND CONDITIONS OF DISPOSAL OF PROPERTY 33.” (1) Immediately after decision on allotment of dwelling units/flats/site has been taken, the applicant under High income Group and Middle Income Group shall be required to pay/deposit equal to 30 per cent of the disposal price, but the applicants under Low Income Group and Economically Weaker section, shall be required to pay deposit equal to 20 per cent of the disposal price .Such deposit shall be non- interest deposit .” (2) An applicant to whom a dwelling unit or flat/site has been allotted have to pay the balance amount of the disposal price(i.e., after adjusting the deposit) within such period as may be determined by the Board and specified in the allotment order/letter. 6363 | P a g e (3) If the applicant fails to p ay the amount within the said specified period, the allotment shall be cancelled and a sum of money equal to 20 percent of the deposit shall be forfeited and the balance refunded. (4) In the case of such applicants as have not been finally allotted any dwelling unit/flat/site the deposit specified in sub-regulation (1) shall be refunded. (5) The Board shall have the sole and exclusive right over the deposit till it is adjusted or refunded with or without deduction as provided in these regulations.