Disposal of Land Rules - RIICO

3. Where any strip of land is so located that it can be used by the owners of more than one
adjoining plots, such strip of land shall be disposed of by a limited auction between the
owners of all the adjoining plots. On auction, the strip of land shall not be disposed of at
a rate less than the rates mentioned in para No. 2 above. However, if in any such auction
the owner of only one adjoining plot shows interest in purchasing the land, the strip of
land shall be allotted to him at the rates mentioned in para No. 2 above.
4. Before disposing of any strip of land, the building line shall be marked which shall be
maintained.
5. No strip of land shall be allotted/ auctioned if it endangers the public safety or is against
traffic regulation.
(Existing provisions substituted by the amended provisions as per approval accorded by the
Infrastructure Development Committee of the Board of Directors vide item (18) of its meeting held
on 05.8.2008 )
12C Policy for refund of development charges on account of short area for all types of
allotted plots:
In cases where the land is found less than the area as per the lease deed/ physical
possession, then the deposited amount due to short land would be refunded without
approval of HO, alongwith interest (w.e.f. 01st Nov. 2003) as under:
(i) If amount remains with the Corporation for a period
less than one year.
@ 5.5 % per annum
(ii) If amount remains with the Corporation for a period
of one year and above
@ 6.0 % per annum
(Amended as per IDC decision taken vide item 5 on 12.8.2005)
Note: 1. The date of development shall be determined by the concerned Sr.DGM/ SRM/
RM whose decision in this respect shall be final. The industrial area shall be
considered as developed only after availability of road, water supply, power
supply and adequate street light.
2. In case where the allotments are made prior to development of the area, lease
agreement shall be executed within 30 days from the date the area is declared
developed and the concerned Sr.DGM/SRM/RM thereof gives notice.
(Inserted as per IDC decision taken vide item 11 on 21.02.1998 and office
order No. IPI/F-1(9)2/82 dated 29th October, 2003)
13. RE - SCHEDULEMENT
OF INSTALMENT
The Chairman & Managing Director shall on being
satisfied, revise the schedule of repayment of
outstanding instalments in genuine cases of sick
industrial units.
(Substituted as per IDC decision taken vide item 22
on 1.9.1999)
The Chairman & Managing Director may allow reschedulement
of due balance development charges
alongwith interest, on the case to case basis, in cases of
plots allotted for setting-up of institutions.