3 (H)  Allotment of land to State / Central Government Departments / Organisations for Residential / Commercial use shall be made as under :-

 

1.         At two times of the prevailing rate of development charges if the land is put to residential purpose ,

2.         At four times of the prevailing rate of development charges if the land is put to commercial purpose .

3.                  The Managing Director shall decide the nature of activity.

 

(Inserted as per the decision taken by the IDC vide item 8 of the meeting held on 28.6.1997.)

 

3 (I) Allotment of land to Industries Associations in the industrial areas may be made in the following manner :

 

1.                  Allotment of land measuring upto 500 sq. mtr. to one Industries Association in the industrial area, depending upon their representative nature, involvement in industrial development etc. may be made for construction of the Association building:

(i)                  At token rate of Rs. 1/- per sq. mtr. if a minimum investment of Rs. 500 crores has been catalysed in the area.

(ii)                At 50% of the prevailing rate of development charges in those cases where Rs. 500 crores investment has not been catalysed.

(iii)               Allotment of land over and above 500 sq.mtr. shall be allotted at full prevailing industrial rate.

2.                  Land for other Industrial Associations shall be allotted on prevailing rate of development charges of the area.

 

Substituted as per the decision taken by the IDC vide item 3, 5&18 and 5 of the meetings held on 7.12.2000 and 8.7.2002.

 

 

3 (J)   Allotment of Constructed Bank Building or Land for Construction of Bank Building to Banks shall be made on the following basis :

 

1.         Constructed Bank Building

 

            The cost of building shall be calculated on the basis of standing order No. 138 of State Public Works Department or actual expenditure made by the Corporation plus interest thereon for idle period of investment, less depreciation , whichever is higher . The cost of land shall be calculated at four times the prevailing rate of development charges of the area, or reserve price fixed by the Corporation for making auction of commercial plot , whichever is higher .

 

2.         Land for construction of Bank Building

 

            Allotment of land to any bank for construction of bank building may be allowed by MD at the reserve price fixed for commercial plot in particular industrial area.

 

(Inserted and substituted as per decisions taken by IDC vide item 5, 12 and 4 of the meetings held  on 4.9.1995, 22.3.2000 and 8.8.2000 respectively).

 

 

3 (K)  Allotment of land to Khatedars whose lands are acquired for setting up of industrial areas by RIICO.

 

            Desirous khatedars may opt to take allotment of  15% developed land on lease basis in lieu of compensation of acquired land and they shall be able to use the land for industrial and residential purposes as per approved scheme and plan, irrespective of location of industrial areas. No cash compensation would be allowed to Khatedar in such cases . The allottee shall comply with the provisions of RIICO Disposal of Land Rules, 1979.  Other terms and conditions would be as under:

 

1.         Allotted land shall not be used for commercial purposes in any case.

2.         Allotment of developed land in lieu of acquired land shall be made in the project area itself and generally in the same place where land has been acquired.

3.         In case of option given for allotment of 15% developed land, the cost of constructed building on acquired land shall not be paid separately. Only 15% developed land shall be given.

4.         15% developed land shall be given only to khatedar / land lord, whose land has been acquired. If  khatedar / land lord nominates only one registered, general / special power of attorney holder then, 15% developed land can be given to the nominee. After allotment, khatedar shall be able to sell land as per rules.

5.         Before issuance of notification under section 6 of land acquisition act, the copy of plan shall be submitted to the State Government and Land Acquisition Officer. After seeing the map, khatedar shall be able to give option and LAO shall be recommending either for compensation of land or allotment of 15% developed land in favour of khatedar.

6.                  The allotment of 15% developed land in favour of khatedar shall be issued as per recommendations of allotment committee constituted by M.D for this purpose.

 

Inserted / Substituted / Amended as per the decisions taken by IDC vide item 1, 10 and 22 of the meetings held on 5.9.1998, 23.4.2002 & 12.11.2002 respectively.