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If the intending Lessee fails to complete the construction work as stipulated in relevant Agreement to Lease, the Nodal Asstt. Estate Officer shall grant extension in time limit on recovery of additional lease premium at following rates
| a |
Upto one year |
15% of the premium |
| b |
Between one & two years |
25% of the premium per year |
| c |
Between two & three years |
35% of the premium per year |
| d |
Between three & four years |
40% of the premium per year |
| e |
Between four & five years |
40% of the premium per year |
| f |
Between five & six years |
40% of the premium per year |
| g |
Above six years |
50% of the premium per year |
The additional Lease Premium specified above is cumulative. e.g. In case of Agreement to Lease executed in 1991, the Intending lessee is allowed to complete the construction upto 1995. If extension in time is required for two years i.e. upto the year 1997 the additional lease premium would be 40% (i.e. 15%+ 25%) and in case is required for a furhter year i.e. upto 1998, the additional lease premium would be 75% (15%+ 25%+ 35%).
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