4. SECURITY DEPOSIT	(i)	Security deposit shall be paid in the form of Bank Draft or Bankers Cheque drawn in favour of "RIICO Ltd.", @ 1% of development charges calculated on prevailing rate and reduced rate for concessional category as specified in rule 3(C), (after allowing the concessions applicable for the category), subject to minimum of Rs. 2500/-.
	(ii)	However, relaxation may be allowed in the condition of Security deposit payment in case where land is specially acquired on requisition for big projects where Promoters have deposited keenness money.

(Substituted as per IDC decisions taken vide item 23 & 13 on 21.2.98 & 19.12.94 respectively)

.

5. RSERVATION/PUBLIC AUCTION

The Corporation shall have the right to reserve certain plots / land in the industrial area which it may dispose of by public auction or by entertaining individual applications. Where the Corporation decides to dispose of the plots in any industrial area by public auction , the terms and conditions governing auction shall generally be as laid down by the Corporation as it may deem fit from time to time.

6. USE OF PLOTS

The plots shall be used for erection of factories for industrial production and other purposes as may be permitted by the Corporation .

7. OBNOXIOUS INDUSTRIES

The industries which are not obnoxious and have no effluent problem will be permitted. A list of obnoxious industries is given at annexure ‘B’ .

8. POSSESSION

( i )

After making payment of balance development charges, physical possession of the allotted plot shall be taken by the allottee within 90 days from the date stipulated for payment of balance 75% development charges as mentioned in allotment letter or the actual date of payment whichever is later.

( ii )

However, in exceptional cases Managing Director may allow to hand over possession of the industrial plots before payment of full development charges.

(iii)

In case of industrial/commercial plots, if payment of development charges is allowed in instalments, the plot possession shall be taken by the allottee within 90 days from the allotment date.

(iv)

It shall be necessary that the allottee will take physical possession of the plot within the above specified or the extended time period. For this, an intimation by a registered A.D. post or by a courier will be sent to the allottee, to the effect that allotment will be cancelled if the allottee does not turn up for taking physical possession of the allotted plot within the specified time period.

(Substituted as per IDC decisions taken vide item 23, 24, 16, 5&22 and 14 on 21.2.98, 29.12.99, 25.2.2000, 13.11.2000 and 16.12.2000 respectively. Amended as per item 24 of themeeting held on10.2.2010)