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Disposal of Land Rule - RIICO

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Note:<br />

(VII) The cases will be placed before the IDC for approving issuance <strong>of</strong> Letter<br />

<strong>of</strong> Reservation.<br />

(VIII) "Letter <strong>of</strong> Reservation" will be considered only upto 50% <strong>of</strong> the saleable<br />

area <strong>of</strong> the industrial area concerned.<br />

(IX) The "Letter <strong>of</strong> Allotment" will be issued after opening <strong>of</strong> the industrial<br />

area for land allotment.<br />

(X) Possession <strong>of</strong> the land will be handed over only after opening <strong>of</strong> the<br />

industrial area for allotment.<br />

(inserted as per item 15 <strong>of</strong> the meeting dt. 13.8.2012)<br />

All such cases for allotment <strong>of</strong> industrial, other than industrial, Commercial and<br />

residential plots in any industrial area at a rate below prevailing rate <strong>of</strong><br />

development charges in the industrial area would be placed before IDC for decision.<br />

However this would not apply to the land for public purposes where the existing<br />

rules provide for allotment at token/ nominal charges. (Inserted as per IDC decision<br />

taken vide item 11 on 25.04.2005)<br />

4. SECURITY DEPOSIT (i) Security Deposit shall be made in the form <strong>of</strong> Bank<br />

Draft or Bankers Cheque drawn in favour <strong>of</strong><br />

“<strong>RIICO</strong> Ltd.”, @ 1% <strong>of</strong> the total development<br />

charges, subject to minimum <strong>of</strong> Rs. 2500/-.<br />

(ii) However, relaxation may be allowed for the<br />

Security Deposit in the cases wherein land has<br />

been specially acquired on requisition, for big<br />

projects, where Promoters have deposited keenness<br />

money.<br />

(Substituted as per IDC decisions taken vide item 23 & 13 on 21.2.98 & 19.12.94<br />

respectively)<br />

5. RSERVATION/<br />

PUBLIC AUCTION<br />

The Corporation shall have the right to reserve<br />

certain plots/ land in the industrial area that it may<br />

dispose <strong>of</strong> by public auction or by entertaining<br />

individual applications. The terms and conditions<br />

governing plot auction shall generally be as laid<br />

down by the Corporation as it may deem fit from<br />

time to time.<br />

6. USE OF PLOT The plot shall be used for factory erection for<br />

industrial production and other purposes as may be<br />

permitted by the Corporation.<br />

7. OBNOXIOUS INDUSTRIES The industries that are not obnoxious and have no<br />

effluent problem will be permitted. A list <strong>of</strong><br />

obnoxious industries is given at Form ‘B’.

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