Riico Land rates

Industrial Plot

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Artistic
  • Property TypeIndustrial Plot
  • Property Sub Type Industrial Land
  • Transaction type Sale
  • Project NameRIICO
  • Area Jaipur
  • Plot Size1000
  • Rate On Request /
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PROPERTY DISCRIPTION

Riico Land rates

Industrial land exploitation & Investment

Land, water, power, housing, tutorial institutions, hospitals, media-centres, looking plazas, recreation, tourism, nature/wildlife parks and a congenial climate for a quantum growth. Rajasthan has presently become an ideal destination for producing Land.

More than 16,500 industries unit in production among industrial} and commercial Areas developed by RIICO in Rajasthan.

LAND AND BUILDING TAX

Industries with investment upto Rs.25 lacs in Land and Building would be exempted from tax. At intervals the permit the year 2000-2001 for novel industrial units exemption in building tax has been increased for the investment of Rs.20.00 lacs to twenty 5.00 lacs and equally previous industrial units the limit of exemption has been increased for the investment of Rs.5.00 lacs to 10.00 lacs. it's collectively projected that those new industrial land units established upto thirty one.3.2003 would be completely exempted from land and building tax for a quantity of 5 years. For a project placed in any of the RIICO’s Industrial Areas, the price of land would be determined on the premise of the rates mounted by RIICO from time to time.

INDUSTRIAL POLICY

The fourth Industrial policy of the State has created Rajasthan the foremost favored destination for industries land. The policy has envisaged a attractive package of incentives to industries, that put down alia embedded excise tax exemption/ holdup, interest grant, duty exemption, DG subsidy, grant for agro based units, incentive for quality certification, reduction in tax, special theme in conjunction with interest grant and exemption from diversion tax for amusement parks/cinemas/hotels, simplification of land conversion and exemption of land and building tax.

However, the excise tax exemption/deferment theme, 1998 has been out of print from 1st might, 2000 to a lower place uniform excise tax theme altogether States, introduced by Government of Republic of Bharat.

The self-propelled vehicle units having investment of a minimum of Rs.10 crores and that provide regular employment to a minimum of 2 hundred persons are:

• Granted utility standing to a lower place Section 2(n) of the business Disputes Act.

• Land at nominal rate is also thought-about by RIICO for grassroot automotive project.

A customised package conjointly are going to be thought-about for premier units with a minimum investment of Rs.150 crores and regular employment of 5 hundred persons.

 

The sick units, involved for revival, would be exempted from this tax throughout the quantity of ill health. This tax square measure getting to be charged just once in associate degree extremely year, despite quite one transfer.

They embrace some distinguished comes originated with active cash and technical backing of the multi-national firms like:

• Samcor Glass Ltd. (Corning, North yank country and Samsung, Korea)

• Ericsson telecommunication (LM Ericsson, Sweden)

• Indian Shaving merchandise (Gillette, UK)

• Bausch & Lomb (Bausch & Lomb, USA)

• Climate management Ltd. (Ford Motor Co., USA)

• Sicpa Ltd. (Sicpa s.a., Switzerland)

• MICO master

• Cooper Automobile merchandise (I) Ltd., (Champion, USA)

Total infrastructure support is provided to industrial comes in Rajasthan by approach of developing Industrial lands and Townships, a programme throughout that Departments of the govt. of Rajasthan unit participating. RIICO has accorded priority to development of Social and Industrial Infrastructure in and around the industrial areas, and has developed 279 Industrial Areas to this point.

Apart from infrastructure development RIICO collectively provides cash facilitate – term loans, assets loans and direct equity support to interchange Rajasthan. completely different agencies involved in manufacture at intervals the State are-Rajasthan cash Corporation that has term loan facilitate to tiny, very little and medium sector comes, and Bureau of Investment Promotion that has escort services to the entrepreneurs and is that the State’s single window agency to boot to the board of administrators of Industries.

Land Interest grant

The Capital Investment grant theme has been replaced by associate degree Interest grant theme. To a lower place this theme associate degree Interest grant would be provided @ a try of twenty-two on the documented rate of interest till last date of compensation as per original compensation schedule mounted by the institution. This Interest grant square measure getting to be offered to industrial units having investment in building complex & machineries up to Rs.60 lakhs. The theme will keep operative till March 2003. The business units regular in making compensation to the money institutions/banks square measure getting to be eligible for obtaining this incentive.

LAND CONVERSION SIMPLIFIED

Entrepreneurs face difficulties in securing conversion of land from agricultural to industrial. To resolve this downside, provision has been created for automatic conversion of land in rural areas upto 5 hectares. If nothing has been detected among thirty days of filing the applying complete altogether respects from Authority competent for land conversion, the land shall be deemed to possess been regenerate and anxious metric weight unit, D.I.C. shall issue a certificate to this impact. Consequently Tehsildar/Gram Panchayats shall build necessary entries at intervals the land record among seven days.

STAMP DUTY

Stamp Duty of I Chronicles on customs bond has been reduced from a most of Rs.25,000 to a most of Rs.1,000. Tax on transfer of partnership rights has collectively been reduced and rationalized.

Sale and transfer of sick units/assets of condemned units by RIICO/RFC would still be exempt from tax.

The following package of incentives has been evolved for units being originated in these industrial areas:

1. Interest rebate on land allotment: this rate of interest of allotment of land on payment basis is fifteen August 1945 p.a. A rebate of 3 in rate of interest for timely payment of installments of development charges is allowed. The effective rate of interest for timely payments would then be serial music p.a. for these.

2. Production Incentive: Production incentive to units placed at intervals the expansion centres Abu Road, Dholpur, Jhalawar, Hamirgarh (Bhilwara) and Khara (Bikaner) (Except for the plots appointed on reduced rate of Rs.75 p.sq.m. on or once nineteen.7.2000) square measure getting to be @ two hundredth, fifteen August 1945 and 100% at intervals the speed of development charges for returning into industrial production; among a quantity of twelve months, eighteen months and twenty four months severally from the date of allotment.

3. Promoters’ Contribution: while finance comes in growth centre areas, relying upon the prospect perception, the promoters’ contribution might even be unbroken at a minimum of thirty fifth as compared to ordinal in numerous unit as provided the other parameters of the project square measure among the standard acceptable vary.

4. Increase in Moratorium Period: The moratorium quantity on payment of principal amount might even be increased from one and a zero.5 years to two years for the comes in growth centre area.

5. Equity Participation: For comes having total worth of Rs.5.00 crores and on prime of, RIICO might ponder equity participation of 100% restricted to Rs.1.00 crore, relying upon the advantage of the project. simply just in case of comes going for public issue, equity participation might even be thought-about on non buy-back basis whereas not demand for collateral security. However, if the project does not imagine any public issue, equity might even be thought-about with collateral security and its redemption might even be thought-about on current interest.

CAPITAL INVESTMENT GRANT FOR STORAGES AND WAREHOUSE

Capital Investment grant for Construction/Expansion/Modernisation of Cold Storages and Storages for farming end up is given by National farming Board to the extent of twenty fifth of the project worth subject to a most of Rs.50 lacs. The promoter’s contribution got to be minimum twenty fifth of the project worth and Term Loans unit provided by Banks through NABARD. A capitalist can avail either this or the other grant being given by Rajasthan State Agriculture promoting Board.

New Industries Exempted from tax in twelve Backward Districts of Rajasthan.

As per alternative taken by the Central Government, new industries in twelve backward districts of Rajasthan square measure exempted from tax. These twelve districts unit among the 123 such backward districts at intervals the country.

Among these twelve districts, five unit at school A and seven at school B (see the list below). New Industries at school "A" will get cent per cent exemption for the first five assessment years; and for future five assessment years, twenty 5 per cent exemption. it will be thirty per cent at intervals the case of firms.

While the new industries at school "B" districts will get a cent per cent exemption for three assessment years; and for future five assessment years twenty 5 per cent exemption; but thirty per cent simply just in case of firms.

 

DG Set grant square measure getting to be to those SSI Units whose investment in P&M does not exceed Rs.60 lacs @ twenty 5 per cent of the acquisition worth of the burden unit Set subject to a most of Rs.2.50 lacs upto thirty 1st March, 2003.

SINGLE WINDOW CLEARANCES

The authorities having amended the ‘Rules of Business’ has created three sceptered committees to produce all desired clearances in one go. Single kind has been designed for availing the clearances. The scepter committees shall be as follows:

1. Board of Infrastructure Development & Investment has been established to a lower place the berth of Chief Minister of the State to produce all clearances and permissions to the comes proposing investment of quite Rs.25crores.

2. State Level scepter Committee has been formed to a lower place the berth of Chief Secretary, Govt. of Rajasthan to produce clearances and approvals in cases where projected investment is below Rs.25 cores but quite Rs.3 crores.

3. To a lower place the berth of Collector, Distt. Sceptered Committee has been established to cope with the cases where investment is below Rs.3crores.

While the nodal agency for the first two committees is Bureau of Investment Promotion (BIP) for the third it is the District Industries Centre (DIC).

INCENTIVE SCHEME FOR QUALITY CERTIFICATION

The SSI any as large & Medium trade will get associate degree incentive worth Rs.10,000 & 21,000 severally for obtaining international administrative unit & ISO-9000/BIS 14000 registration certificate. This theme will keep effective upto 31st March, 2002.

INCENTIVE FOR ISO-9000 CERTIFICATION

The small scale associate degreed accent units will get an incentive on ISO-9000 certification as per the theme introduced by the govt. of Republic of Bharat. This theme provides for compensation of charges for deed ISO-9000 (or its equivalent) certification to the extent of seventy fifth of the value subject to a most of Rs.75,000/- in such case. The theme will keep operational upto thirty 1st March, 2002.

 

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