Punjab Apartment and Property Regulation (Amendment) Rules, 2014

Government of Punjab
Department of Housing and Urban Development
(Housing II Branch)

Notification

The 18th September, 2014

No. 17/17/01-5Hg2/312341/1 in exercise of the powers conferred by section 45 of the Punjab Apartment and Property Regulation Act, 1995 (Punjab Act No. 14 of 1995) and all other powers enabling him in this behalf, the Government of Punjab is pleased to further amend the Punjab Apartment and Property Regulation Rules, 1995 by partial modification of Notification No. 17/17/01-5Hg2/ 245063/1 dated 17-06-214 as under:-

Rules:-

1. Short title:

These Rules may be called the Punjab Apartment and Property Regulation (Amendment) Rules, 2014.

2. Commencement:

They shall come into force at once.

3. In the Punjab Apartment and Property Regulation Rules, 1995 in sub rule (1) under Rule 14, for clause (i) the following shall be substituted namely:-

” a demand draft for a sum calculated @ 50% of the licence fee notified by the Govt from time to time or Rs. 50,000/_ per gross acre for residential and commercial projects and Rs. 25,00/_ per gross acre for Residential Plotted development and for other purposes which ever is less for issuing a license as renewal fee in favour of the Competent Authority and drawn on a scheduled bank.”

Provide that licenses which are pending for renewal before the commencement of this rule may also be renewed in accordance with this rule if the promoter applies afresh for such renewal within a period of once year from the commencement of the above said rule.

A Venu Prasad, IAS
Secretary to Government of Punjab,
Department of Housing & Urban Development

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