Disposal of Land Rules - RIICO
Disposal of Land Rules - RIICO
Disposal of Land Rules - RIICO
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lacs per 500 sqm. land and Rs. 2 lacs for every subsequent 100 sqm. within a period<br />
<strong>of</strong> 3 years, entitled land rebate shall be @ 25% <strong>of</strong> the allotment rate for the plot upto<br />
maximum <strong>of</strong> 2000 sqm. area.<br />
4. Advanced IT Institutes- For the institute which is set up on the allotted plot with a<br />
minimum fixed investment <strong>of</strong> Rs. 5 crores within a period <strong>of</strong> 3 years, entitled land<br />
rebate shall be @ 25% <strong>of</strong> the allotment rate for the plot upto maximum <strong>of</strong> 5 acres<br />
area.<br />
Advanced IT Institutes would mean institutes <strong>of</strong>fering exclusive IT courses atleast <strong>of</strong><br />
the level <strong>of</strong> MCA /BE / M.Tech (IT) /MBA (IT) /MSC (IT) or <strong>of</strong> a recognized<br />
equivalent.<br />
5. General Computer Training Institutes- No rebate in the allotment rate shall be<br />
allowed. However, <strong>RIICO</strong> may consider land allotment upto maximum <strong>of</strong> 2000 sqm.<br />
on prevailing rate provided unit makes fixed investment <strong>of</strong> about Rs. 5 lacs per 500<br />
sqm. land within 3 years period.<br />
Notes-<br />
a) Production activities will need to be started within three years from the date <strong>of</strong><br />
possession or from the date <strong>of</strong> lease deed execution, whichever is earlier.<br />
b) The minimum fixed investment should be made within 3 years from the date <strong>of</strong><br />
possession or from the date <strong>of</strong> lease deed execution, whichever is earlier.<br />
c) An undertaking / certificate shall also be submitted by IT unit every year for the use<br />
<strong>of</strong> land for the purpose the land is allotted.<br />
d) Fixed investment shall mean investment in land, building, computers, printers,<br />
scanners, plotters, licensed s<strong>of</strong>tware’s, EPABX, networking equipment, UPS, DG-<br />
Sets, CVT"s, AC, LAN Cable and other equipment and furniture.<br />
e) In case <strong>of</strong> failure to observe the terms and conditions regarding investment and time<br />
schedule mentioned in the package, the concessional amount shall be recovered<br />
from allottee with interest from the date on which concession amount has been<br />
reimbursed.<br />
f) In each case the decision <strong>of</strong> <strong>RIICO</strong> shall be final as to what qualifies as IT Industry/<br />
Institute for the purpose <strong>of</strong> above said incentive.<br />
g) For reimbursement <strong>of</strong> the concessional amount, the plot allottee would be required<br />
to inform <strong>RIICO</strong> <strong>of</strong>fice by a registered AD letter sent prior to the scheduled date<br />
regarding the investment made on the plot. After verification by the Unit Head, the<br />
cheque or rejection letter, as the case may be, will be sent by <strong>RIICO</strong> within 30 days<br />
by registered AD letter.<br />
h) No other rebates / incentives shall be given to these (All above) IT industries. <strong>Land</strong><br />
rebates as mentioned above shall not be available in institutional area within<br />
Sitapura industrial area at Jaipur.<br />
Definitions <strong>of</strong> IT Industry<br />
a) IT S<strong>of</strong>tware /ITES Industry:-