Disposal of Land Rule - RIICO

(ii) If the transfer of the part plot/land is being affected in pursuance of
rehabilitation scheme sanctioned/approved by
BIFR/AAIFR/Financial Institutions.
(iii) If part land/ plot after sub- division is being transferred to a new
firm (Proprietorship / partnership) wherein the transferor proprietor
/ partners and / or their blood relations are holding controlling
shares in the new transferee firm.
(iv) If land/plot is being sub divided in small plots and then being
transferred with a view to clear term loan dues as one time
settlement, in case of the units exclusively financed by RIICO then,
the chargeable transfer fee can be reduced or even waived by the
Waiver Committee constituted under the chairmanship of
MD/CMD. However, transfer fee in similar cases financed by other
financial institutions will attract transfer fee as per rules.
(v) If the existing partners (on record of the Corporation) of an allottee
firm are sub-dividing the land / plot and distributing the land / plot
between/amongst themselves for setting up separate units, pursuant
to a mutual settlement arrived at or order given by a competent
Court of Law.
Explanations and Notes :
(i) Existing partners / promoters means partners / promoters existing at
the time of plot allotment.
(ii) Blood relations means husband, wife, sons, daughters, brothers,
sisters, father, mother, grand father & grand son of the allottee.
(iii) Sub-division / transfer of unutilized land/plot under the rule will be
subject to the condition that the Corporation will not be responsible to
provide the infrastructure facilities viz. road, water, power, drainage,
street lights etc. It will be the exclusive responsibility of the
transferor/transferee to arrange the required infrastructure facilities at
their own level and cost. An undertaking to this effect shall be taken
from the transferor / transferee at the time of issuing permissions for
transfer / sub-division under the rule.
(iv) Transfer of part plot / land under these rules will be permitted for the
same purpose for which the plot / land has been allotted.
(v) All provisions mentioned in this rule will be applicable to all pending
cases.
(vi) The 99 years lease period would be computed from the original land
allotment date in respect of cases considered/permitted under these Rules .
17-C: Merger of plots:
Merger of allotted land/ plot(s) may be allowed, without any
premium/charges, wherein the allottee proprietor / partners, in case of
partnership firms / promoter directors, in case of the Companies of
the merging land /plot(s) are either same or are in immediate blood
relation or having major and controlling shares in both the merging
plots/units. Further sub-division of plot constituted by merger of plots