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Riico Land Rates
Industrial land exploitation & Investment Land, water, power, housing, academic establishments, hospitals, media-centres, searching plazas, recreation, tourism, nature/wildlife parks and a congenial climate for a quantum growth. Rajasthan has currently become a perfect destination for manufacturing Land.
More than 16,500 industries area unit in production among the Industrial and commercial Areas developed by RIICO in Rajasthan.
They Embrace Some Distinguished Comes Originated With Active Money and Technical Backing of the Multi-national Corporations Like:
• Samcor Glass Ltd. (Corning, North American 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 old 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 during which Departments of the govt of Rajasthan area unit taking part. RIICO has accorded priority to development of Social and Industrial Infrastructure in and round the industrial areas, and has developed 279 Industrial Areas thus far.
Apart from infrastructure development RIICO conjointly provides money help – term loans, assets loans and direct equity support to trade in Rajasthan. different agencies concerned in manufacture within the State are-Rajasthan money Corporation that provides term loan help to small, little and medium sector comes, and Bureau of Investment Promotion that provides escort services to the entrepreneurs and is that the State’s single window agency additionally to the board of directors of Industries.
The fourth Industrial policy of the State has created Rajasthan the foremost favored destination for industries land. The policy has envisaged a horny package of incentives to industries, that inhume alia enclosed nuisance tax exemption/ holdup, interest grant, duty exemption, DG subsidy, grant for agro primarily based units, incentive for quality certification, reduction in tax, special theme together 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 nuisance tax exemption/deferment theme, 1998 has been discontinued from first could, 2000 beneath uniform nuisance tax theme all told States, introduced by Government of Republic of India.
The automotive vehicle units having investment of a minimum of Rs.10 crores and which give regular employment to a minimum of two hundred persons are:
• Granted utility standing beneath Section 2(n) of the commercial Disputes Act.
• Land at nominal rate may be thought-about by RIICO for grassroot automotive project.
A customised package also will be thought-about for premier units with a minimum investment of Rs.150 crores and regular employment of five hundred persons.
Land Interest Grant
The Capital Investment grant theme has been replaced by an Interest grant theme. beneath this theme AN Interest grant would be provided @ a pair of % on the documented rate of interest until last date of compensation as per original compensation schedule mounted by the establishment. This Interest grant are going to be offered to industrial units having investment in industrial plant & machineries up to Rs.60 lakhs. The theme can stay operative until March 2003. The commercial units regular in creating compensation to the money institutions/banks are going to be eligible for getting this incentive.
LAND CONVERSION SIMPLIFIED
Entrepreneurs are facing difficulties in securing conversion of land from agricultural to industrial. To resolve this drawback, provision has been created for automatic conversion of land in rural areas upto five hectares. If nothing has been detected among thirty days of filing the applying complete all told respects from Authority competent for land conversion, the land shall be deemed to own been regenerate and anxious gramme, D.I.C. shall issue a certificate to the current impact. consequently Tehsildar/Gram Panchayats shall build necessary entries within the land record among seven days.
LAND AND BUILDING TAX
Industries with investment upto Rs.25 lacs in Land and Building would be exempted from capital levy. within the allow the year 2000-2001 for brand new industrial units exemption in building tax has been redoubled for the investment of Rs.20.00 lacs to twenty five.00 lacs and equally previous industrial units the limit of exemption has been redoubled for the investment of Rs.5.00 lacs to ten.00 lacs. its conjointly projected that those new industrial land units established upto thirty one.3.2003 would be absolutely exempted from land and building tax for a amount of five years. For a project situated in any of the RIICO’s Industrial Areas, the worth of land would be determined on the premise of the rates mounted by RIICO from time to time.
The sick units, concerned for revival, would be exempted from this tax throughout the amount of illness. This tax are going to be charged one time in an exceedingly year, regardless of quite one transfer.
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 conjointly been reduced and rationalised.
Sale and transfer of sick units/assets of confiscated 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 toward land Allotment: this rate of interest of allotment of land on payment basis is 15 August 1945 p.a. A rebate of three 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 twelve-tone music p.a. for these.
2. Production Incentive: Production incentive to units situated within the growth centres Abu Road, Dholpur, Jhalawar, Hamirgarh (Bhilwara) and Khara (Bikaner) (Except for the plots assigned on reduced rate of Rs.75 p.sq.m. on or when nineteen.7.2000) are going to be given @ 2 hundredth, 15 August 1945 and 100 percent within the rate of development charges for coming back into industrial production; among a amount of twelve months, eighteen months and twenty four months severally from the date of allotment.
3. Promoters’ Contribution: Whilst finance comes in growth centre areas, relying upon the chance perception, the promoters’ contribution could also be unbroken at a minimum of thirty fifth as compared to four-hundredth in different area unit as provided the opposite parameters of the project are among the conventional acceptable vary.
4. Increase in Moratorium Period: The moratorium amount on payment of principal quantity could also be redoubled from one and a 0.5 years to 2 years for the comes in growth centre space.
5. Equity Participation: For comes having total value of Rs.5.00 crores and on top of, RIICO could contemplate equity participation of 100 percent restricted to Rs.1.00 crore, relying upon the advantage of the project. just in case of comes going for public issue, equity participation could also be thought-about on non buy-back basis while not demand for collateral security. However, if the project doesnt imagine any public issue, equity could also be thought-about with collateral security and its redemption could also 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 turn out is given by National farming Board to the extent of twenty fifth of the project value subject to a most of Rs.50 lacs. The promoter’s contribution ought to be minimum twenty fifth of the project value and Term Loans area unit provided by Banks through NABARD. A businessperson will avail either this or the opposite grant being given by Rajasthan State Agriculture promoting Board.
New Industries Exempted from revenue enhancement in twelve Backward Districts of Rajasthan.
As per a choice taken by the Central Government, new industries in twelve backward districts of Rajasthan are exempted from revenue enhancement. These twelve districts area unit among the 123 such backward districts within the country.
Among these twelve districts, 5 area unit in class A and 7 in class B (see the list below). New Industries in class "A" can get cent per cent exemption for the primary 5 assessment years; and for future 5 assessment years, twenty five per cent exemption. itll be thirty per cent within the case of corporations.
While the new industries in class "B" districts can get a cent per cent exemption for 3 assessment years; and for future 5 assessment years twenty five per cent exemption; however thirty per cent just in case of corporations.
DG Set grant are going to be given to those SSI Units whose investment in P&M doesnt exceed Rs.60 lacs @ twenty five per cent of the acquisition price of the weight unit Set subject to a most of Rs.2.50 lacs upto thirty first March, 2003.
INCENTIVE SCHEME FOR QUALITY CERTIFICATION
The SSI further as massive & Medium trade can get an incentive value Rs.10,000 & 21,000 severally for getting international intelligence agency & ISO-9000/BIS 14000 registration certificate. This theme can stay effective upto thirty first March, 2002.
INCENTIVE FOR ISO-9000 CERTIFICATION
The small scale and accessory units can get an incentive on ISO-9000 certification as per the theme introduced by the govt of Republic of India. This theme provides for compensation of charges for feat ISO-9000 (or its equivalent) certification to the extent of seventy fifth of the price subject to a most of Rs.75,000/- in such case. The theme can stay operational upto thirty first March, 2002.
SINGLE WINDOW CLEARANCES
The authorities having amended the ‘Rules of Business’ has created 3 sceptred committees to supply all desired clearances in one go. Single form has been designed for availing the clearances. The sceptred committees shall be as follows:
1. Board of Infrastructure Development & Investment has been deep-seated beneath the berth of Chief Minister of the State to supply all clearances and permissions to the comes proposing investment of quite Rs.25 crores.
2. State Level sceptred Committee has been shaped beneath the berth of Chief Secretary, Govt. of Rajasthan to supply clearances and approvals in cases wherever projected investment is below Rs.25 cores however quite Rs.3 crores.
3. Beneath the berth of Collector, Distt. sceptred Committee has been deep-seated to contend with the cases wherever investment is below Rs.3 crores.
While the nodal agency for the primary 2 committees is Bureau of Investment Promotion (BIP) for the third its the District Industries Centre (DIC).