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