Amendment status not verified — confirm the current text below against the official source.
(1J Any promoter intending to undertake or carry out any development work shall make an application in writing tor grant of a licence to undertake or carryout such work to the Authority in such form accompanied by such documents and fee and in such manner as may be prescribed. 37 Additional provisions where cost of development work is to be realised in ad- vance. Provisions for economically weaker sec- tions. Recovery of capital or maintenance cost of ameni- ties. Development works in joint - sec- tor. (2) The Authority may, after making such enquiry as it considers necessary, by an order in wiritinq- (Q.)grant a licence inthe prescribed form after the applicant has furnished to it a bank guarantee equivalent to ten percent of the estimated cost of the development work and has entered into an agreement with it containing such details as may be considered necessary including provisions for ensuring - (i) that the development shall be within the framework of the approved plan and shall conform to the provisions of the development control rules and applicable building rules, bye-laws; and (ii) that the time schedule within which the development work is to be completed shall be adhered to ; , (b) or refuse to grant a licence after affording the applicant an opportuntiy of being heard. (3) No licence shall be granted when the estimated cost of the development work exceeds; (a) rupees ten lakhs without the prior approval of the Chief Town Planner; (b) rupees twenty five lakhs, without the approval of the Government. (4) The licence so granted shall be valid for a period of three years. It may, however, be renewed for reasons to be recorded in writing from time to time for a period not exceeding one year on payment of prescribed fee.