Disposal of Land Rules - RIICO
Disposal of Land Rules - RIICO
Disposal of Land Rules - RIICO
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11. TERMS AND CONDITIONS<br />
OF LEASE<br />
The allottee shall abide by the terms and conditions<br />
<strong>of</strong> lease agreement and other terms as laid down by<br />
the Corporation from time to time.<br />
The lease deed shall be executed in Form ‘C’ within<br />
90 days from the date <strong>of</strong> full development charges<br />
paid. In cases <strong>of</strong> allotment on instalment basis lease<br />
deed shall be executed in Form ‘D’ within 90 days<br />
from the allotment date. Sr. DGM/ Sr. RM/ RM<br />
may also allow lease deed execution before<br />
payment <strong>of</strong> balance development charges. No<br />
retention charges will be levied in granting<br />
extension for lease deed execution.<br />
The original lease deed where full development<br />
charges have been paid may be allowed for<br />
mortgaging or may be handed over to the allottee as<br />
per Form ‘G’. (Amended as per IDC decision<br />
taken vide item 9 on 17.06.1994)<br />
In case <strong>of</strong> allotment on instalment basis or lease<br />
deed executed without payment <strong>of</strong> full development<br />
charges, the original lease deed may be sent to<br />
financial institutions if so requested, with the<br />
condition that, balance development charges shall<br />
be remitted to the Corporation by the financial<br />
institutions if the lessee fails to pay instalment(s)/<br />
balance development charges in time. In case the<br />
Financial Institution does not remit the due amount,<br />
the Corporation shall have the right to resume<br />
possession <strong>of</strong> the land irrespective <strong>of</strong> first charge <strong>of</strong><br />
the Financial Institution.<br />
(Inserted as per IDC decision taken vide item 24 on 29.12.1999)<br />
12. TERMS OF PAYMENT OF DEVELOPMENT CHARGES:<br />
12 (1): (Terms <strong>of</strong> payment <strong>of</strong> development charges):<br />
The applicant / allottee shall pay the Development Charges <strong>of</strong> the plot at the rate<br />
prescribed by the Corporation for each industrial area from time to time. Charges for<br />
making available electricity and water up-to main roads may be levied extra. The<br />
Corporation reserves the right to enhance the rate <strong>of</strong> development charges if any<br />
competent court enhances the compensation payable under an award subsequently.<br />
The development charges for industrial plots will be recovered in the following<br />
manner:<br />
(i) 25% development charges as pre-requisite amount alongwith the application<br />
form for the land allotment.
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