14.8.20 Formation of Shelter Fund

Commissioner shall cause to be deposited 50% of amount of consideration received from the allottees and amount received from bidding process in a separate fund to be named as ―Shelter Fund‖, which may be used as per the policy to be formulated by the Corporation for payment of consideration for acquisition of land falling under URC, providing financial assistance to beneficiaries under URC, procurement of land for creation of affordable Housing, and promoting affordable housing in the city limits.

(1)

Note - If any correction / changes are needed in URS Regulation for the benefit of URC or for success of URC scheme, the decision can be taken at HPC level and subsequently should be communicated to the Government to incorporate such decision in this Regulation. (1)