Mumbai, May 24: The Maharashtra Industrial Development Corporation (MIDC), a nodal agency to promote industry and industrial estates, has introduced new transfer guidelines for industrial plots, sheds, residential plots and galas in flatted type buildings and residential flats. This move is expected to generate an additional revenue of at least Rs 200 crore.Minister of state for industry, Prabhakar More, told The Financial Express that these guidelines were recently cleared by the MIDC board. He said that several industry associations have welcomed the guidelines which were listed below:
-If the natural person/individual wants to change the constitution and wants to include his blood relations of the original allottees or if original partners want to delegate any of the persons, such transfer would henceforth be a formal one and be permitted on recovery of the minimum transfer charges. The transfer because of death by bequeath/will/heirship would be permitted on recovery of the minimum transfercharges.
-All involuntary transfers, including amalgamation, demergers under the direction of the competent court/tribunals/appropriate government, not being this nature of permission and would be permitted on recovery of this transfer charges. Transfer from promoter of the proposed private limited company to private limited company incorporated by the promoter, the existing procedure for the transfer from the promoter to the company incorporated by the promoter would continue.
More said that where the licensee/lessee has constructed or consumed at least 10 per cent of the permissible FSI (floor space index) of the plot area, such transfer would be permitted on recovery of the 10 per cent of the differential premium.
``A differential premium in respect of land shall mean the difference between the occupancy premium for the plot calculated at the land rates prevalent at the time of receipt of the application of the transfer by the MIDC and the amount calculated at the land rates prevalent at the time ofinitial allotment in favour of the transferor.''
More said that where the licensee/lessee has not constructed at least 10 per cent of the permissible FSI of the plot area, such transfer would be permitted on recovery of the 30 per cent of the differential premium. To determine construction of at least 10 per cent of the permissible FSI of the plot area, the certificate issued by the licensed architect would have to be produced by the licensee/lessee and would be relied upon by the MIDC.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
