(Inserted as per decision taken by IDC vide item 24 of the meeting held on 29th December 1999.)

 

 

Terms of payment of development charges.

 

12 (1): (Terms of payment of development charges):

 

         The applicant / allottee shall pay the Development Charges of the plot at the rate prescribed by the Corporation for each industrial area from time to time. Charges for making available electricity and water up-to main roads may be levied extra. The Corporation reserves the right to enhance the rate of development charges if any competent court enhances the compensation payable under an award subsequently.

 

The development charges for industrial plots will be recovered in the following manner:

 

(i)      25% development charges as pre-requisite amount alongwith the application form for the land allotment.

(ii)     Balance 75% development charges in instalments as per the time schedule and the terms & conditions as prescribed / laid down by the Corporation.

         (iii)  The allottee  may opt to pay balance 75% development charges within 60 days of the land allotment for which no interest will be charged.

 

            (Substituted as per IDC decision taken vide item 5 on 08.01.2001. Amended as per item 24 of the   meeting held on 10.2.2010)

 

12( 2 ) The Chairman and Managing Director may allow payment of balance 75% development charges of industrial plot in one year in three equal quarterly instalments , without interest in case the allotment is made before the industrial  area is declared as developed.

 

            (Inserted as per decision taken by IDC vide item 12 of their meeting held on 25th February, 2000.)

 

12 (3): (Broad provisions for payment of the development charges in  Installments ):

 

The installments  will be paid over a prescribed period in equal quarterly installments as   per terms and conditions, time schedule, interest rate etc. as may be prescribed /laid down by the Corporation from time to time. Existing  terms & conditions/time schedule etc. for the payment of balance development charges in the installment is  as under:

                                                                                      

 

     (i)  The installments for  balance 75 % development charges will be paid in seven quarterly installments.

           

(ii)    The first installment will become due on fixed date falling after 5 months from the allotment date and interest shall be charged from 61st day of the allotment. Fixed dates for payment of installment with interest shall be 31st March, 30th June, 30th Sept. and 31st Dec.  of  the year. 

 

(iii) The installments will be paid on due date (as mentioned above) alongwith interest calculated on remaining development charges on due date. In case of default in installment payment, further interest at the rate higher by 2% over & above the normal rate shall be levied on due principal amount of installment from the installment due date to the payment date. While depositing the amount, payable interest shall be deposited first.

      (Inserted as per IDC decisions taken vide item 16 on 25.02.2000 and amended vide item 5 on 8.1.2001 and item 10 on 18.08.2001. Amended as per item 24 of the meeting 10.2.2010)

12(4) In case of allotment of plots through auction, the charges shall be paid as per the terms & conditions of auction decided by the Corporation from time to time .

(Substituted as per decision taken by IDC vide item 6 of the meeting held on 22nd March, 2000.)

 

12(5)    Installment Scheme for commercial plot allottees:

 

            Commercial plot allottees may opt to pay balance 75% development charges in equal quarterly instalments as per details given here under:

 

(i)      Total permitted quarterly instalments will be 10 in numbers. Out of which initial 1 instalment will be interest free in developed areas and 3 in under developed areas and for the remaining instalments, interest at the prescribed rate shall be paid.

 

(ii) If the allottee does not want to avail any interest free instalment facility, then the payment will be received in 19 quarterly instalments. In such case all the instalments will be interest bearing instalments.

 

               Note:

 

               In such cases, possession of the plot can also be handed over to the allottee concerned even before payment of full cost as is being done in case of industrial plots i.e. the allottee will be given possession of the land within 90 days of the allotment subject to payment of initial deposit amount. If the allottee does not turn up for the possession then it will be deemed to have been taken on 91st day of the land allotment.

 

            (Inserted as per IDC decision taken vide item 10 on 18.08.2001. Amended/inserted as per item 15 of IDC meting held on 15.9.2009 )

 

12(6)  Allottees of residential plots getting allotment by normal procedure or auction may opt to pay balance 60% development charges in 3 equal quarterly instalments from the date of allotment. Such allottees shall pay instalments alongwith interest on outstanding amount at prescribed rate. Interest is to be calculated after 60 days from the date of allotment. In case of default in payment of instalments in time, interest at the rate higher by 2% over the normal rate shall be levied on principal amount of due instalment for delayed period. However, the possession of plot shall be given only after payment of 100% development charges.

            (Inserted as per decision taken by IDC vide item 11 of their meeting held on 10th December, 2001)

12(A) ADDITIONAL CHARGES FOR CORNER PLOTS

 

( i )       If a corner plot measuring upto 4000 sqmt. is proposed for allotment, additional charges @ 10% of the rate of development charges as corner charges shall be charged for corner plot. No corner charges for corner plots measuring more than 4000 sqmt. shall be levied irrespective of the fact that proposed plot is re-constituted by clubbing of smaller plots even upto 4000 sqmt.

 

( ii )      The concession to the allottees of concessional categories shall be allowed on the total development charges of the plot including corner charges.

 

( iii )     If the plot proposed for allotment upto 4000 sqmt. is re-constituted by clubbing of any corner plot with non-corner plot then, corner charges shall be levied on the area of corner plot as per original lay out plan / scheme.

 

( iv )     Corner charges on the allottees of non-cornered plots which have been carved out by sub-division of large size corner plot will not be levied. Sub-division of large size corner plot shall be done only when required size of plot is not available in the area.

 

( v )      Corner charges will be levied only when more than one plot of any size has been planned . Isolated plots will not be subjected to corner charges.

 

            (Substituted as per decision taken by IDC vide item 19 of the meeting held on 5th July 2000 and item 11 of of the meeting held on 25th January 2001.)

 

 12(B)  Allotment of 'Strip of Land' will be made as under :

 

12(B-1):   Definition of "Strip of Land"

 

(i) A "strip of land" shall mean a piece of land adjoining one or more existing plots which can not be put to independent use either because it cannot be planned as an independent plot in conformity with the town planning norms or because there can be no approach to such piece of land.

 

          (ii) Any land in possession of an allottee which is in excess of the land actually allotted by the Corporation shall also be deemed to be a strip of land.

 

12(B-2) :  Conditions and modes of disposal of 'strips of land':

 

1.    All allotments of strip of land shall be made only for the purpose for which the original plot of the allottee was allotted or has been allowed to be used.

 

2.    Where any strip of land is so located that it can be used by the owner of only one adjoining plot, such strip of land shall be disposed of by allotment to the owner of the adjoining plot.  In such cases the allotment of the strip of land shall be made at the following rates:

 

 

 

For industrial or institutional (educational) purpose

Twice the prevailing development charges for industrial or institutional use, as the case may be, or the highest rate received in the last auction for similar use, whichever is higher.

 

For commercial or residential purpose

Four times the prevailing development charges for industrial purpose or the highest rate received in the last auction for commercial or residential purpose as the case may be, whichever is higher.

 

 

 

3.   Where any strip of land is so located that it can be used by the owners of more than one adjoining plots, such strip of land shall be disposed of by a limited auction between the owners of all the adjoining plots.  On auction, the strip of land shall not be disposed of at a rate less than the rates mentioned in para No. 2 above.  However, if in any such auction the owner of only one adjoining plot shows interest in purchasing the land, the strip of land shall be allotted to him at the rates mentioned in para No. 2 above.

 

 4.    Before disposing of any strip of land, the building line shall be marked which shall be maintained.

 

5.     No strip of land shall be allotted/ auctioned if it endangers the public safety or is against traffic regulation.

 

          (Existing provisions substituted by the amended provisions as per approval accorded by the Infrastructure Development Committee of the Board of Directors vide item (18) of its meeting held on 05.8.2008 )

12-C  Policy for refund of development charges on account of short area for all types of allotted plots:

 

In cases where the land is found less than the area as per the lease deed / physical possession, then the deposited amount due to short land would be refunded without approval of HO, alongwith interest (w.e.f. 01st Nov. 2003) as under:

 

( i )

If amount remains with the Corporation for a period less than one year.

@ 5.5 % per annum

( ii )

If amount remains with the Corporation for a period of one year and above

@ 6.0 % per annum

 

(Amended as per IDC decision taken vide item 5 on 12.8.2005)

 

Note: 1. The date of development shall be determined by the concerned Sr. DGM/SRM/RM whose decision in this respect shall be final. The industrial area shall be considered as developed only after availability of road, water supply, power supply and adequate street light.  

2.      In case where the allotments are made prior to development of the area, lease agreement shall be executed within 30 days from the date the area is declared developed and notice thereof is given by the concerned Sr. DGM/SRM/RM.

(Inserted as per decision taken by IDC vide item 11 of the meeting held on 21st February 1998 and office order No. IPI/F-1(9)2/82 dated 29th October, 2003 respectively.)