Sanctioned housing scheme to be executed

The Board shall subject to the provisions of sections 32 and 35, proceed to execute the housing scheme included in the programmes made under sections 31 and 34. (1) the hire –purchase deposit which shall be a sum as to be decided by the Board from time to time shall be paid by an applicant within two months after decision has been taken to allot him a dwelling unit/flat. Such deposits shall be adjusted after the expiry of the hire –purchase period at the time of execution of the conveyance Deed. (2) In the case of such applicants as have not finally been allotted any dwelling unit/flat the said deposit shall be refunded. (3) In the case of such applicants to whom allotment letters have been issued and who have failed to fulfil the requirements as specified in the allotment letter such equal to 20 per cent of the deposit shall be forfeited and the balance refunded. (4) The board shall have the sole and exclusive right over the hire purchase deposit till such time it is adjusted on the execution of the conveyance deed or refunded with or with our deduction as provided in these regulations and the agreement made there under. (5) Subject to provisions or Regulation 11 the balance hire- purchase price of the property including interest thereon at such rates as may be prescribed by the Board shall be recovered in monthly instalments the amount whereof shall be fixed in each case. Provided further that except where a hirer permitted to pay dire purchase price as aforesaid in lump sum, he shall not mortgage, transfer or part with the possession of the property till the expiry of hire –purchase period otherwise than with prior permission of the Board. (1) unit/flat. Such deposits shall be adjusted after the expiry of the hire –purchase period at the time of execution of the conveyance Deed. (2) In the case of such applicants as have not finally been allotted any dwelling unit/flat the said deposit shall be refunded. (3) In the case of such applicants to whom allotment letters have been issued and who have failed to fulfil the requirements as specified in the allotment letter such equal to 20 per cent of the deposit shall be forfeited and the balance refunded. (4) The board shall have the sole and exclusive right over the hire purchase deposit till such time it is adjusted on the execution of the conveyance deed or refunded with or with our deduction as provided in these regulations and the agreement made there under. (5) Subject to provisions or Regulation 11 the balance hire- purchase price of the property including interest thereon at such rates as may be prescribed by the Board shall be recovered in monthly instalments the amount whereof shall be fixed in each case. Provided further that except where a hirer permitted to pay dire purchase price as aforesaid in lump sum, he shall not mortgage, transfer or part with the possession of the property till the expiry of hire –purchase period otherwise than with prior permission of the Board.