Disposal of Land Rules - RIICO
Disposal of Land Rules - RIICO
Disposal of Land Rules - RIICO
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HANDING OVER OF THE ORGINAL LAND LEASE AGREEMENT<br />
TO THE ALLOTTEES<br />
FORM "G"<br />
Original Lease Agreement <strong>of</strong> land available with <strong>RIICO</strong> and not mortgaged can be handed over<br />
to the allottee. While handing over the <strong>Land</strong> Lease Agreement following procedure shall be<br />
followed:<br />
1. Entrepreneur can make a demand for handing over <strong>of</strong> the original <strong>Land</strong> Lease Agreement <strong>of</strong><br />
land if<br />
(a) payment <strong>of</strong> 100% development charges alongwith outstanding dues upto the date <strong>of</strong><br />
handing over the lease deed has been made; and<br />
(b) no case <strong>of</strong> violation <strong>of</strong> <strong>Land</strong> Lease Agreement is pending.<br />
2. After conditions as mentioned at point 1 are met, following undertaking should be obtained<br />
from the entrepreneur :<br />
(a) The entrepreneur shall furnish details regarding charge / mortgage created in favour <strong>of</strong><br />
Financing Body / Bodies for obtaining loan within 7 days from the date <strong>of</strong> creating such<br />
a charge / mortgage. In case <strong>of</strong> non-compliance to this condition and if <strong>RIICO</strong> takes<br />
action as per the relevant clause <strong>of</strong> lease deed for breach <strong>of</strong> terms and conditions, then<br />
the lessee and the financing body/bodies shall be fully responsible for all consequences.<br />
(b) Original <strong>Land</strong> Lease Agreement would be submitted to <strong>RIICO</strong> by the allottee as and<br />
when demanded to do so by <strong>RIICO</strong>.<br />
3. After being satisfied that, the conditions as mentioned at point 1 have been fulfilled and<br />
necessary undertakings as mentioned at point 2 have been furnished Sr. RM/RM would<br />
(a) stamp as following in red colour on the front page <strong>of</strong> the Original <strong>Land</strong> Lease<br />
Agreement before handing over <strong>of</strong> the same to the lessee.<br />
"For obtaining loan for any purpose the demised plot can be mortgaged by deposit <strong>of</strong><br />
this Lease Agreement in favour <strong>of</strong> Financing party or body as mentioned in the second<br />
proviso to clause 1(c) <strong>of</strong> the <strong>Land</strong> Lease Agreement."<br />
(b) and keep a photocopy <strong>of</strong> the original land Lease Agreement duly stamped as per point<br />
3(a) in the file <strong>of</strong> the allottee.<br />
(Substituted and amended as per IDC decision taken vide item 21 & 29 on<br />
13.11.2000.)<br />
FORM "G"