Disposal of Land Rules - RIICO
Disposal of Land Rules - RIICO
Disposal of Land Rules - RIICO
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(iv) Cancellation <strong>of</strong> plot due to the reasons other than mentioned above (like delay in<br />
commencement <strong>of</strong> production etc.): Restoration shall be done on payment <strong>of</strong><br />
retention charges / other charges, as applicable / re-compliance <strong>of</strong> terms <strong>of</strong><br />
allotment and lease deed on violation <strong>of</strong> which the plot was cancelled, and on<br />
payment <strong>of</strong> additional development charges @ 5% <strong>of</strong> the rate <strong>of</strong> development<br />
charges prevailing in the area.<br />
(v) Educational Institutes/Industrial Training Institutes plots are placed at par with<br />
the industrial plots for this purpose.<br />
24(3)B. Industrial / Residential / Commercial / Educational Institutes/Industrial<br />
Training Institutes plots allotted through auction or industrial / residential<br />
plots under TBAY:<br />
(i) Cancellation <strong>of</strong> plot due to default in payment <strong>of</strong> 75% development charges/ 3<br />
or more consecutive instalments: Restoration shall be done on payment <strong>of</strong><br />
outstanding development charges alongwith interest and additional<br />
development charges @ 25% <strong>of</strong> prevailing rate <strong>of</strong> development charges. In case<br />
<strong>of</strong> residential and commercial plots prevailing rate <strong>of</strong> development charges for<br />
the respective use shall be two and four times <strong>of</strong> industrial rate <strong>of</strong> development<br />
charges prevailing in the area respectively.<br />
(ii) Cancellation <strong>of</strong> plot due to default in payment <strong>of</strong> less than 3 consecutive<br />
instalments <strong>of</strong> development charges: Restoration shall be done on payment <strong>of</strong><br />
outstanding development charges alongwith interest and additional<br />
development charges @ 10% <strong>of</strong> prevailing rate <strong>of</strong> development charges. In case<br />
<strong>of</strong> residential and commercial plots prevailing rate <strong>of</strong> development charges for<br />
the respective use shall be two or four times <strong>of</strong> industrial rate <strong>of</strong> development<br />
charges prevailing in the area respectively.<br />
(iii)Cancellation <strong>of</strong> plot due to default in payment <strong>of</strong> service charges and economic<br />
rent: Restoration shall be done on payment <strong>of</strong> outstanding dues alongwith<br />
interest and additional penalty amount equal to 25% <strong>of</strong> principal outstanding<br />
dues <strong>of</strong> service charges and economic rent.<br />
(iv) Cancellation <strong>of</strong> plot on account <strong>of</strong> reasons other than mentioned above (like<br />
delay in commencement <strong>of</strong> production etc.): Restoration shall be done on<br />
payment <strong>of</strong> retention charges / other charges, as applicable / re-compliance <strong>of</strong><br />
terms <strong>of</strong> allotment and lease deed on violation <strong>of</strong> which the plot was<br />
cancelled, and on payment <strong>of</strong> additional development charges equal to 5% <strong>of</strong><br />
prevailing rate <strong>of</strong> development charges in the area. For residential and<br />
commercial plots prevailing rate <strong>of</strong> development charges for respective use<br />
shall be two times and four times <strong>of</strong> prevailing industrial rate in area<br />
respectively.<br />
(v) Educational Institutes/Industrial Training Institutes plots are placed at par<br />
with the industrial plots for the above purposes.<br />
24(3)C. Condition attached to restoration <strong>of</strong> cancelled plot: After receipt <strong>of</strong> payment <strong>of</strong><br />
additional development charges, interest, retention charges, dues etc. and removal
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