Disposal of Land Rule - RIICO
Disposal of Land Rule - RIICO
Disposal of Land Rule - RIICO
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
6. PERIOD OF PROJECT IMPLEMENTATION:<br />
The project will be completed within a period <strong>of</strong> three years from the date <strong>of</strong><br />
possession or execution <strong>of</strong> lease deed, whichever is earlier. However, the allottee must<br />
achieve the following milestones related to the project implementation:<br />
i) First year : Construction upto the extent <strong>of</strong> 20% eligible FAR<br />
ii) Second year : Construction upto the extent <strong>of</strong> 40% eligible FAR<br />
iii) Third year : Construction upto the extent <strong>of</strong> 75% eligible FAR<br />
* Extension for another three years could be given provided that 50% <strong>of</strong> project<br />
area <strong>of</strong> the Complex excluding housing, commercial and recreational<br />
components has been implemented.<br />
7. BROAD BUILDING PARAMETERS:<br />
Building parameters will be as per the Form ‘E-2’ under the ‘Building Regulations’ as<br />
appended to the rules, which relates to IT/IteS buildings.<br />
8. SUB LEASING:<br />
The developer and the anchor unit will have the freedom <strong>of</strong> renting and sub-leasing,<br />
both built up space and / or land, subject to the condition that such renting and subleasing<br />
will only be permitted for the purposes defined at serial no. 4(a) above Other<br />
terms & conditions <strong>of</strong> sub-leasing/renting will be as under:<br />
i) No separate permission/charges for sub-leasing built up space and/or land will be<br />
required.<br />
ii) Building construction <strong>of</strong> the IT Complex will be done as per the <strong>RIICO</strong> Buildings<br />
Parameters related to IT Complexes. The Complex may also house commercial,<br />
recreational, residential facilities for sub-leasing to the extent permitted in <strong>RIICO</strong><br />
building parameters related to IT Complexes.<br />
iii) Sub-lease period will not exceed the remaining period available to the original<br />
plot allottee.<br />
iv) It is primarily the land allottee / prime lessee who will be required to pay all dues<br />
/ annual charges eg. Service Charges and Economic Rent etc. to <strong>RIICO</strong>. If the sub<br />
lessees are made to pay the above annual charges to <strong>RIICO</strong> then the allottee will<br />
put a condition to this effect in the sublease. Without such condition the sublease<br />
will not be treated as valid. A suitable provision / clause regulating the above<br />
arrangement will also be inserted in the lease deed to be executed with the land<br />
allottee.<br />
v) Common facility area will be maintained by the developer or through any agency<br />
approved by it, for which the developer may levy suitable charges on the users.<br />
vi) Lessor (<strong>RIICO</strong>) will provide only outer infrastructure as per the development<br />
scheme <strong>of</strong> the concerned industrial area. Internal development <strong>of</strong> the IT campus