JAIPUR: The Rajasthan State Industrial Development and Investment Corporation (RIICO) has granted conditional approval for issuing No Objection Certificates (NOCs) to the Rajasthan Financial Corporation (RFC) for the sale of properties that were allotted to it.
According to a statement from RIICO, the RFC is permitted to sell properties located in several industrial zones across Banswara, Kota, Alwar, Jhunjhunu, Abu Road, Balotra, Jalore, and Bhiwadi.
These properties were allocated by RIICO over time at either concessional or current market rates for constructing office and residential buildings.
RFC sought NOCs from RIICO to facilitate these plot sales, and the approvals have been granted in accordance with existing regulations. For plots sold at current market rates, RIICO has issued NOCs without additional stipulations.
In contrast, for plots sold at concessional rates, NOCs have been issued with the condition that RFC must pay the concession amount and applicable interest at the time of allotment.
RIICO has also emphasized that the use of the land or property must align with the original intent of the allocation, ensuring adherence to planned industrial usage.
This move is anticipated to unlock the potential of several premium plots that have been underutilized for an extended period. Following their sale, these properties are expected to be transformed into commercial office spaces and real estate projects, significantly boosting industrial and business activities in the state.
