Mode of recovery of price of land

Twenty five percent of the consideration shall be deposited by an occupant, to whom any land has been allotted at the time of issue of letter of intent and the balance price shall be paid by the allottee in five interest-free six-monthly installments. However, for any delayed installment, interest at the rate of twelve percent per annum shall be recovered for the period of delay. In the event, an allottee wants to deposit the entire amount at the time of the allotment itself, a discount of ten percent of the overall consideration shall be admissible to him.