Disposal of Land Rules - RIICO

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
as above may also be allowed as per the provisions of sub-division of
allotted land / plots as mentioned above in Rule 17-(B).
17- (D) : Delegation of Powers:
The powers of sub-division of allotted land/plot will be exercised by the
Unit Head concerned :
(Amended as per approval by the IDC vide item 22 of its meeting held on 15.4.2008.
Delegation of p oweres amended as per item 39 of the meeting held on 18.2.11 )
18. TRANSFER OF PLOT AND CHANGES IN CONSTITUTION
18(a) Transfer defined:
For the purpose of this provision transfer of plot (transfer of leasehold rights) will
mean transfer of full plot, by way of sale, lease, assignment etc. including Merger,
Acquisition and Amalgamation of the Companies. It will include transfer of
plot/land by an individual/firm/company or any other allottee/lessee as the case
may be.
Notes:
(i) The transferee will have the status of an allottee/lessee of the Corporation and
all the rules and regulations of the Corporation will apply to the transferee
'Mutatis-Mutandis'. The transferee will be holding the land for the remaining
lease period available in balance with the transferor of the land/plot.
(ii) Lease period of 99 years will be computed from the date of original allotment
in these transfer cases.
(a-i) Transfer of interest in Firm:
If, at any stage holding / ownership interest of the proprietor/ promoter
partners, who were there in the firm at the time of plot/land allotment as the
case may be, goes down below 51% in the firm, the same will be treated as
transfer of allotted plot for the purpose of these rules & transfer fee as
prescribed below will be charged.
(a-ii) Transfer of interest in Company:
In case of private limited / public limited companies, plot transfer will be so
treated if the allotted plot is transferred to a new company / firm. But when only
shares of a company are transferred or Directors in the company are changed and
the plot remains in the name of same company, it will not be treated as transfer of
plot.