The Multi-modal International Hub Airport at Nagpur (Disposal of land) Regulations, 2018 approved by the Board of Directors.
The Earnest Money Deposit (EMD) to be submitted along with application (Application for allotment of Plot) shall be 10% of the total lease premium in the form of a demand draft or pay order, issued by a Nationalized bank or Scheduled Commercial Bank in India drawn in favour of "Maharashtra Airport Development Company Ltd", payable at Mumbai. The EMD shall not carry any interest. The EMD will be adjusted in the Lease Premium.
Payment of Lease Premium The specified market rate for calculation of lease premium of the land is as per pricing policy for disposal of Land in MIHAN.
On acceptance of the offer by the company, the lease premium agreed to be paid by the intending lessee shall be paid in instalments after adjusting the EMD in following manner:-
A)Small size plot (less than 5 acre / 2 hector) :- The total lease premium after deducting the EMD amount shall be paid in two equal installments, of which the first within 45 days, and the second within 90 days, from the date of receipt of allotment letter.
B)Large size plot (more than 5 acre / 2 hector):- The lease premium shall be paid in three equal instalments of which the first within 30 days, second within 90 days and third within 180 days from the date of receipt of allotment letter.
The prevailing rate of delayed payment charges is 15% per annum (simple rate) subject to revision, from time to time.
After full and final payment of lease premium, MADC shall give NOC to obtain Letter of Approval to set up units and undertake an operation. The applicant is required to take approval within 90 days which is further extendable 90 days subject to payment of watch and ward charges. After getting letter of approval, Agreement to Lease / Lease Deed as applicable should be executed.
If the agreement to lease is not executed within the specified period or extended period under these regulations, the agreement concluded between the Company and intending lessee shall be liable to be terminated; and in the event of termination of the concluded agreement, the earnest money deposit, along with 25% of the amount of installments of the lease premium, if any, paid, shall be forfeited without prejudice to the rights of the Company to recover compensation for loss or damage, if any, suffered in consequence of such default by the intending lessee.
(a) Subject to provisions of sub- clause (b), the intending lessee or, as the case may be, co-developer, shall complete within the period of four years from the date of agreement to lease or, lease deed, the construction of the building, structure or other work, consuming at least 75% of the permitted FSI on the plot, in accordance with the provisions of the Development Control Regulations and shall accordingly obtain occupancy certificate from the Town Planning Officer.
(b) Where :
(a) Subject to provisions of sub-clause (b), the intending lessee or, as the case may be, co-developer, shall complete the construction of the building, structure or other work, consuming at least 50% of permitted FSI on the plot, in maxi- mum three phases, in that, upto three years, first phase 20% upto five years, second phase 30% and upto seven years, third phase 50% in accordance with the provisions of the Development Control Regulations and shall accordingly obtain occupancy certificate from the Town Planning Officer.
(b) Where :
A co-developer or any other allottee outside processing SEZ and proposes to carry out construction of building, structure or other work by laying sub-plots on the plot, then within the period of ninety days from the date of agreement to lease or, as the case may be, lease deed, shall obtain the approval of the layout from the Town Planning Officer, and shall carry out such construction gradually sub-plotwise by consuming the entire FSI allocated to the respective sub-plot from within the permitted FSI on the plot.
If the intending lessee or, as the case may be, co-deveoper, is not able to complete the construction of building, structure or other work as stipulated in regulation 13, the Managing Director may, on the request of the intending lessee or co-devel- oper and on payment of the additional premium as may be determined by the Company, from time to time, grant extension of period in the following manner, namely :
(a) in case of plot within processing SEZ, the period of extension shall not exceed five years, so however that such extension shall not exceed one year at a time and shall not be beyond the last day of validity period of letter of approval, and that every such extension of period shall be for the balance FSI.
(b) in case of plot outside processing SEZ, the period of extension shall be year to year and that every such extension of period shall be for the balance FSI.
(a) in case of plot within processing SEZ, the period of extension shall not exceed five years, so however that such extension shall not exceed one year at a time and shall not be beyond the last day of validity period of letter of approval, and that every such extension of period shall be for the balance FSI.
(b) where plot is outside processing SEZ, then the period of extension shall be granted gradu- ally on completion of construction phasewise and such extension of period shall not exceed one year at a time. building, structure or other work, consuming at least 50% of permitted FSI on the plot, in maxi- mum three phases, in that, upto three years, first phase 20% upto five years, second phase 30% and upto seven years, third phase 50% in accordance with the provisions of the Development Control Regulations and shall accordingly obtain occupancy certificate from the Town Planning Officer.
(b) Where :
A co-developer or any other allottee outside processing SEZ and proposes to carry out construction of building, structure or other work by laying sub-plots on the plot, then within the period of ninety days from the date of agreement to lease or, as the case may be, lease deed, shall obtain the approval of the layout from the Town Planning Officer, and shall carry out such construction gradually sub-plotwise by consuming the entire FSI allocated to the respective sub-plot from within the permitted FSI on the plot.
The unit to obtain Letter of Approval ("LOA") from unit approval committee (UAC) of Development Commission of MIHAN Limited for obtaining the plot on lease and premises on leave & license within MIHAN SEZ.
Application in prescribed Form 'F' to be filed with the Development Commissioner MIHAN/SEEPZ along with copy of project report and other details / information.
The Development Commissioner of MIHAN/SEEPZ shall scrutinize the proposal of the unit and shall place the same before Unit Approval Committee for their consideration.
Unit Approval Committee shall approve or approve with modifications or reject the proposal within 15 days of its receipt.
The Development Commissioner, MIHAN SEZ shall issue Letter of Approval ("LOA") in prescribed Form G for setting up the unit in SEZ.
SEZ unit shall be required to confirm its acceptance with the terms and conditions of LOA to the Development Commissioner, MIHAN SEZ within 45 days of receipt of LOA.
SEZ unit shall be required to enter into a lease agreement with MADC and copy of registered lease deed shall be required to be submitted with the office of the Development Commissioner, MIHAN SEZ within 6 months of receipt of LOA.
Thereafter the unit can avail from DC all benefits/exemptions/concession permissible under SEZ act.
The entrepreneur can then operate as a unit in MIHAN SEZ.
