Disposal of Land Rules - RIICO

(vi) No sale/sub-division/sub-lease/sub-let will be allowed in such cases before
commencement of commercial production.
(vii) The allotment of land will be done by a Sub-Committee of the Board
comprising of Commissioner (BIP), Commissioner Industries and
Managing Director, RIICO.
Note: The application Form for applying for the land allotment under this
rule is appended to these rules as Form A- Pref. (the form approved by
IDC vide item 33 of the meeting dt. 4.5.2011
(Inserted as per IDC decision taken vide item 4 on 30.04.2007. amended as per item 6 of the
IDC meeting held on 18.10.2010. Amended further as per item-5 of the IDC meeting held on
6.1.2011)
*IDC vide item 5 of its meeting Dt. 4.5.2011 has decided that the investment level and the rate would
provisionally be as per the prerevised provisions i.e as existing prior to the meeting of the IDC held on 6.1.2011.
3(X). Allotment of land for setting-up of Private Universities in RIICO
industrial areas.
i) The Town Planning Cell would plan / earmark a plot / chunk of 30 acres
(minimum) of land in industrial area after assessing potential of the area
vis-a-vis setting up of private universities. Land for setting-up of university
would be planned as per the availability of land and suitability of the place
for the purpose. However, while planning land for University(s) it may be a
guiding factor to plan land for technical and vocational institutions also
nearby the university campus.
ii) Land allotment applications from the interested sponsoring bodies would
be invited after informing the plot availability in the area for the purpose,
through a press release in minimum two newspapers including one
newspaper of national level.
iii) The interested sponsoring body would submit application along with
keenness money of Rs. 5.00 lacs and letter of intent issued by the State
Government. The keenness money would be refunded without interest after
commencement of functioning of the University or the Corporation rejects
application for land allotment. Otherwise the keenness money would be
forfeited.
iv) The land allotment will be made at the basic rate of the concerned industrial
area, allowing 35% up-front discount on the basic rate, with a rider that the
above mentioned rebate will be admissible upto 30 acres of land area, which
being the minimum land area requirement for such projects. In other words,
in those cases wherein land allotment is of more than 30 acres, the above
rebate will not be admissible for the land area exceeding 30 acres.
Moreover, no additional rebate will be admissible in such cases on any
account such as large sized investment rebate, cash down payment rebate
etc.