Disposal of Land Rule - RIICO

3(I-b) Allotment of land at any single location in the State with in RIICO industrial area
to PHDCCI, FICCI, CII and ASSOCHEM for construction of office/association
building.
Land upto 500 sqm may be allotted at a token amount of Re.1/-, at any single location in
the State in the industrial areas to PHDCCI, FICCI, CII and ASSOCHEM ( the
organisations presently active in the State) for construction of Association /office
building . However, the land in excess of 500 sqm will be allotteed at prevailing rate of
development charges of the industrial area concerned. The above organisations will be
exempt from payment of the service charges. Economic rent (lease rent) will be recovered
as per the rules.
(Substituted as per IDC decisions taken vide item 3, 5&18 and 5 on 7.12.2000 and 8.7.2002 and item 12
of meeting dt. 28.5.2010).
3(J). Allotment of Constructed Bank Building or Land for Bank Building Construction,
to Banks shall be made on the following basis:
1. Constructed Bank Building: The cost of building shall be calculated on the basis of
standing order No. 138 of State Public Works Department or actual expenditure
made by the Corporation plus interest thereon for idle period of investment, less
depreciation, whichever is higher. The cost of land shall be calculated at four times
the prevailing rate of development charges of the area, or reserve price fixed by the
Corporation for making auction of commercial plot, whichever is higher.
2. Land for Bank Building construction: Land allotment to any bank for bank
building construction may be allowed by MD at the reserve price fixed for
commercial plot in particular industrial area
(Inserted and substituted as per IDC decisions taken vide item 5, 12 and 4 on
4.9.1995, 22.3.2000 and 8.8.2000 respectively)
3 (K). Allotment of land to Khatedars against the land acquired from it for setting up of
industrial areas:
Khatedars may opt to take allotment of developed land in lieu of cash compensation of
the land acquired from these Khatedars. The developed land will be allotted to such
Khaddar in accordance with the procedure/guidelines/norms etc. as may be decided by
the Corporation from time to time and as prevalent at the time of declaration of the
award by the Land Acqisition Offficer (LAO) concerned.
3 (L). Allotment of Land to I.T. Industries in IT Parks/ designated IT Zones:
Land allotment under a special land package for setting up of various IT industries as
defined below/ Institutes will be made at the rate of development charges prevailing in
the area. After stipulated minimum fixed investment made by the plot allottee on the
allotted plot within the period stipulated for investment in the package (amended as
per IDC decision taken vide item 5 on 27.12.2004), the following entitled land
rebates shall be reimbursed by RIICO to the eligible allottees: