Disposal of Land Rule - RIICO

alance cost in instalment will also not be available {not withstanding provisions
of the rule 12(1)-ii &iii and of the rule 23-A}
8. (Inserted as per IDC decision taken vide item 4 on 30.04.2007. amended as per item 6
of the IDC meeting held on 18.10.2010. Amended further as per item-5 of the IDC
meeting held on 6.1.2011. Amended as per item 30 of the meeting held on
5.12.2011and item 29 of meeting dt. 26.4.2012and item 5 of the meeting 17.10.2012 )
3(X). Allotment of land for setting-up of Private Universities in RIICO
industrial areas.
(i) The Town Planning Cell would plan / earmark a plot / chunk of 30 acres
(minimum) of land in industrial area after assessing potential of the area vis-a-vis
setting up of private universities. Land for setting-up of university would be
planned as per the availability of land and suitability of the place for the purpose.
However, while planning land for University(s) it may be a guiding factor to plan
land for technical and vocational institutions also nearby the university campus.
ii) Land allotment applications from the interested sponsoring bodies would
be invited after informing the plot availability in the area for the purpose,
through a press release in minimum two newspapers including one
newspaper of national level.
iii) The interested sponsoring body would submit application along with
keenness money of Rs. 5.00 lacs and letter of intent issued by the State
Government. The keenness money would be refunded without interest after
commencement of functioning of the University or the Corporation rejects
application for land allotment. Otherwise the keenness money would be
forfeited.
iv) The land allotment will be made at the basic rate of the concerned industrial
area, allowing 35% up-front discount on the basic rate, with a rider that the
above mentioned rebate will be admissible upto 30 acres of land area, which
being the minimum land area requirement for such projects. In other words,
in those cases wherein land allotment is of more than 30 acres, the above
rebate will not be admissible for the land area exceeding 30 acres.
Moreover, no additional rebate will be admissible in such cases on any
account such as large sized investment rebate, cash down payment rebate
etc.
v) Wherever, RIICO develops dedicated industrial area for
institutions/universities alone without any allotment to industry in such area,
land could also be allotted on undeveloped basis at price worked out as cost
of land at current value plus 20% of cost of land at current value as
administrative charges.
vi) Applications so received would be placed before a Committee of Financial
Advisor, GM (BP), Advisor (Infra) and unit head, concerned under the
Chairmanship of MD for approval of allotment.
vii) On approval of allotment, 25% development charges shall be deposited by
the applicant within 30 days from the date of issue of offer. However,