Amendment status not verified — confirm the current text below against the official source.
(1) A land holder may, with the assistance of the corporation, apply to a bank or a financing institution for an ordinary loan for meeting the proportionate cost of works. (2) The amount of ordinary loan, if sanctioned to the land- holder, shall be paid to the corporation by the bank or the financing institution concerned on account of and on behalf of the land holder towards the proportionate cost of works payable by him to the corporation.