Disposal of Land Rules - RIICO

Table-3
S.No. Particulars Deduction of the development
charges
1. Saturated industrial areas Nil
2. Un-saturated industrial areas:
(i) in case surrender is made
within one year of allotment
(ii) In case surrender is made
after one year of allotment
(iii-b) Cosequent upon cancellation of the allotted plot(s):
Table-4
20 % of the net cost of the
plot/land (development charges)
10 % of the net cost of the
plot/land (development charges)
S.No. Procedure of plot allotment Deduction of the development
charges
1. Plot sold by normal allotment Nil
2. Plots sold by auction or under
Tatkal Scheme
6.25% of the total sale price
(development charges).
(iv) The interest received will not be refunded and outstanding interest till the
date of plot surrender or cancellation will be recovered and deducted from
refundable amount of development charges. (The policy is amended as per
IDC decision taken vide item 8 on 20.5.2004)
(v) Dispatch of the cheque of refund of amount sent by registered A.D. post
should be considered as refund of the amount under RIICO Disposal of
Land Rules, 1979 irrespective of non- encashment or returning of the
cheque by the concerned party to the Corporation. The money shall be
refunded only after the possession of the land is handed over by the party or
possession is taken as per orders of the competent court / authority or
deemed possession of the vacant plot.
(Substituted as per IDC decision taken vide item 8 on 10.12.2001 and item 8
on 27.12.2002. Inserted/amended as per item 31 of IDC meeting held on
10.2.2010)
(g-i) Conditional Surrender:
For the purpose of setting up of a new unit in joint venture with a foreign
company, the allottee may be allowed to surrender his plot to RIICO. The same
plot may be allotted to the proposed new unit at the rate prevailing on the date of
allotment, irrespective of the priority list of the pending applications and holding
of controlling share by the original proprietor / partner(s) / directors.