It may, however, be renewed for reasons to be recorded in writing from time to time for a period not exceeding 1 (one) year on payment of prescribed fee.

Additional provisions where cost of development work is to be realized in advance Where a development work envisages realization in advance of the cost of development from the prospective allottees, the promoter shall deposit an amount equivalent to 25 (twenty-five) percent of the sum collected, from time to time, by him from the prospective allottees, within a period of 10

1. (ten) days of its realization, in a separate account to be maintained in a scheduled bank and pledged to the Authority.