Price of land

The price of the land which is allotted shall be determined on the basis of the Collector rate fixed by the Collector and the rate of allotment shall be as follows:- (a) upto two acres—Collector rate minus fifty per cent; (b) above two acres upto four acres—Collector rate minus twenty five per cent; and (c) above four acres and upto five acres — at the Collector rate: Provided that the Collector rate, relevant on the date of issue of letter of intent of the competent authority shall be relevant for the aforesaid purpose.