Disposal of Land Rules - RIICO

(Substituted as per IDC decisions taken vide item 3, 5&18 and 5 on 7.12.2000 and 8.7.2002 and item 12
of meeting dt. 28.5.2010).
3(J). Allotment of Constructed Bank Building or Land for Bank Building Construction,
to Banks shall be made on the following basis:
1. Constructed Bank Building: The cost of building shall be calculated on the basis of
standing order No. 138 of State Public Works Department or actual expenditure
made by the Corporation plus interest thereon for idle period of investment, less
depreciation, whichever is higher. The cost of land shall be calculated at four times
the prevailing rate of development charges of the area, or reserve price fixed by the
Corporation for making auction of commercial plot, whichever is higher.
2. Land for Bank Building construction: Land allotment to any bank for bank
building construction may be allowed by MD at the reserve price fixed for
commercial plot in particular industrial area
(Inserted and substituted as per IDC decisions taken vide item 5, 12 and 4 on
4.9.1995, 22.3.2000 and 8.8.2000 respectively)
3 (K). Allotment of land to Khatedars against the land acquired from it for setting up of
industrial areas:
Khatedars may opt to take allotment of developed land in lieu of cash compensation of
the land acquired from these Khatedars. The developed land will be allotted to such
Khatedar in accordance with the procedure/guidelines/norms etc. as may be decided by
the Corporation from time to time and as prevelant at the time of declaration of the
award by the Land Acqisition Officer (LAO) concerned.
3 (L). Allotment of Land to I.T. Industries in IT Parks/ designated IT Zones:
Land allotment under a special land package for setting up of various IT industries as
defined below/ Institutes will be made at the rate of development charges prevailing in
the area. After stipulated minimum fixed investment made by the plot allottee on the
allotted plot within the period stipulated for investment in the package (amended as
per IDC decision taken vide item 5 on 27.12.2004), the following entitled land
rebates shall be reimbursed by RIICO to the eligible allottees:
1. Very Prestigious Investment - in IT Software, ITES and IT Hardware - For the
industry which is set up on the allotted plot by any company with a minimum fixed
investment of Rs. 10 crores or by a fortune 500 company, within a period of 3 years,
entitled land rebate shall be @ 60% of the plot allotment rate.
2. Prestigious Investment - in IT Software, ITES and IT Hardware - For the
industry which is set up on the allotted plot with a minimum fixed investment of Rs.
1 crore within a period of 3 years, entitled land rebate shall be @ 50% of the
allotment rate for the plot upto maximum of 5 acres area.
3. General Investment - in IT Software, ITES and IT Hardware - For the industry
which is set up on the allotted plot with a minimum fixed investment of about Rs. 10