Tag: RIICO

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RIICO Enables Sale of Rajasthan Financial Corporation Properties

Representative Image 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…

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RIICO Introduces 33-Year Lease with 40% Land Discount

Representative image JAIPUR: Chief Minister Bhajan Lal Sharma has announced that RIICO will permit entrepreneurs to secure plots in 30 identified industrial areas at 60% of current rates, with a lease term of 33 years. This initiative is anticipated to significantly lower the costs of establishing industries. Furthermore, the payment duration under the direct allotment scheme has been extended from three to five years, allowing investors to pay in 19 quarterly installments. To facilitate industrial transactions, the transfer fee for plot sales post-production has been halved from 1% to 0.5%. Additionally, the conversion fee for weighbridge operations has been reduced…

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Rajasthan: RIICO Eases Land Norms, Risks Revenue Losses

Representative image created by AI JAIPUR: In a significant policy update, the Rajasthan State Industrial Development and Investment Corporation (RIICO) has revised land use regulations for industrial zones, implementing major changes to the Disposal of Land Rules from 1979. The amendment, issued on Friday, enables the conversion of industrial plots into commercial, residential, institutional, and mixed-use categories, subject to new charges and procedures. The new framework facilitates the transition of one authorized land-use type to another, representing a notable change in the planning and utilization of industrial land. Under these updated guidelines, changing industrial plots to commercial use will incur…

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NBCC Signs Deal with RIICO for ₹3,700 Crore Jaipur Project

NEW DELHI: State-owned NBCC has signed a Memorandum of Understanding (MoU) with the Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO) to develop a project worth ₹3,700 crore in Jaipur. In a statement released on Thursday, NBCC announced the MoU with RIICO for the development of Rajasthan Mandapam and associated infrastructure near Jaipur International Airport. The project is estimated to be around ₹3,700 crore. NBCC will serve as the Executing Agency for this 95-acre project. According to the statement, “RIICO will provide NBCC with an initial interest-free advance of ₹50 crore, while NBCC will secure the remaining funds through…