The coloniser shall give time to allottees to raise objections to the proposed transfer of licence limited to adverse effect on their rights to the office of the Senior Town Planner concerned within 30 days, a Town and Country Planning Department spokesman said today.
Besides, colonisers will also inform all allottees through e-mail and the proposed transfer will be posted on the department's website, he said.
The spokesman informed after 30 days the senior town planner of the circle concerned will submit his report on objections received from the third party right holders on the proposed licence transfer along with comments.
The spokesman said the coloniser seeking transfer of licence shall submit self-certification and a certificate from a chartered accountant that 15 per cent profit margin will not exceed project cost at the time application is submitted for licence transfer where the coloniser has not obtained completion certificate.
"In case, if it is noticed that the net profit is more than 15 per cent, the surplus profit along with interest at the rate of 12 per cent will be recovered from the coloniser interested in seeking transfer of licence," he said.
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