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Disposal of Land Rules - RIICO

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(Inserted as per IDC decisions taken vide item 16 on 25.02.2000 and amended vide item 5 on<br />

8.1.2001 and item 10 on 18.08.2001. Amended as per item 24 <strong>of</strong> the meeting 10.2.2010.<br />

Amended further vide 7 0f the IDC meeting held on 30.7.10 )<br />

12(4) For plot allotments through auction, the charges shall be paid as per the terms &<br />

conditions <strong>of</strong> auction.<br />

(Substituted as per IDC decision taken vide item 6 on 22.03.2000)<br />

12(5) Installment Scheme for commercial plot allottees:<br />

Same as applicable to industrial plots and mentioned in sub rule 12 (3) above . The<br />

allottee <strong>of</strong> commercial plot also, may opt to pay balance 75% development charges<br />

within 60 days <strong>of</strong> the land allotment for which no interest will be charged.<br />

Commercial plot allottees will balance 75% development charges in equal quarterly instalments<br />

as per details given here under:<br />

(i) Total permitted quarterly instalments will be 10 in numbers. Out <strong>of</strong> which<br />

initial 1 instalment will be interest free in developed areas and 3 in under<br />

developed areas and for the remaining instalments, interest at the<br />

prescribed rate shall be paid.<br />

(ii) If the allottee does not want to avail any interest free instalment facility,<br />

then the payment will be received in 19 quarterly instalments. In such case<br />

all the instalments will be interest bearing instalments.<br />

Note:<br />

In such cases, possession <strong>of</strong> the plot can also be handed over to the allottee<br />

concerned even before payment <strong>of</strong> full cost as is being done in case <strong>of</strong> industrial<br />

plots i.e. the allottee will be given possession <strong>of</strong> the land within 90 days <strong>of</strong> the<br />

allotment subject to payment <strong>of</strong> initial deposit amount.<br />

(Inserted as per IDC decision taken vide item 10 on 18.08.2001. Amended/inserted as per item 15 <strong>of</strong> IDC<br />

meting held on 15.9.2009 )<br />

12(6) Installment Scheme for allottees <strong>of</strong> residential plots:<br />

Same as applicable to industrial plots and mentioned in sub rule 12 (3) above . The<br />

allottee <strong>of</strong> residential plot also, may opt to pay balance 75% development charges<br />

within 60 days <strong>of</strong> the land allotment for which no interest will be charged.<br />

(Inserted as per IDC decision taken vide item 11on 10.12.2001)<br />

12(A) Additional charges for corner plots:<br />

(i). If a corner plot measuring up-to 4000 sqm. is proposed for allotment, additional<br />

charges @ 10% <strong>of</strong> the rate <strong>of</strong> development charges as corner charges shall be<br />

charged for corner plot. For corner plots measuring more than 4000 sqm., which<br />

may not be available for allotment in the industrial area, no corner charges shall be<br />

levied if the corner plot <strong>of</strong> the required size is planned by clubbing corner plot(s)

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