Disposal of Land Rule - RIICO

(v) (a) In cases where subdivision and subsequent transfer of part land has
taken place before 1.5.2008, will be treated as per provision of
sub-division policy existing at the time of registered sale deed of
the plot or sub-divided plot. However, the transfer fee will be
recovered in these cases as per prevailing norms.
(b) Plots existed as on 1.5.08 will be treated as original plots and sub-
division will be allowed as per present sub-division policy.
(vi) In case of transferred industrial areas, wherein more than 50% plots were
planned upto the size of 500 sqm. or less , then the minimum size of subdivided
plot can be of 200 sqm in relaxation of provision of the rule 17-(B)
(ii)-c, above.
(Inserted as per item 12 of the IDC meeting held on 15.9.2009. Further amended as per
item24 of the IDC’s meeting Dt.16.12.2009. Amended as per item 3 of the meeting
10.2.2010. Sub rule 17-B-v inserted as per approval of IDC- item 39 of meeting held on
18.2.11. amended as per item 3 of 19.10.11. Further amended as per item14 of the
meeting 9.3.2012 )
17-(B-1): Transfer Defined:
For the purpose of this provision transfer of part land/ plot (transfer of
leasehold rights) mean transfer of part /parts of land / plot after
land/plot sub-division, by way of sale, lease, assignment etc. including
merger, acquisition and amalgamation of the Companies. It will
include transfer of plot / land by an individual/firm/company or any
other allottee/lessee as the case may be.
Notes:
(i) The transferee will have the status of an allottee / lessee of the
Corporation and all the relevant rules and regulations of the Corporation
will apply to the transferee ‘Mutatis-Mutandis’. The transferee will be
holding the land / plot for the remaining lease period available in balance
with the transferor of the land / plot.
(ii) Lease period of 99 years will be computed from the date of
original allotment in these transfer cases.
17-B (2): Transfer Fee:
Transfer of sub-divided land / plot subsequent to sub-division of the
allotted land / plot in accordance with the above mentioned provisions
/ stipulations etc. can be allowed on payment of a transfer fee @ 10%
of the prevailing industrial rate of the industrial area concerned.
Exemptions:
The following cases will be exempt from payment of transfer fee:
(i) If transfer of part land / plot or transfer of interest / holding in the
firm is in favour of blood relations. The spouses shall also be
treated at par with the relatives.