FAQ

Allotment

Sr. No. Questions Answer
1. Availability of Plots / Properties in various Estates Details of inventory is available on web-site. Also can be obtained from concerned R.M of the Estate.
2. What Infrastructure / Facilities provided by GIDC Basic-Infrastructure Facilities like Road/ SWD/ Drainage/ Streetlight are provided. Most of the estate have W/S facilities.
3. About transfer of plot Recently, vide Policy Circular dated. 31.5.08 the transfer of un-utilised plot has been restricted. Utilised plot can be transfered by charging transfer fee considering time of utilisation As prevailing policy.
4. Extension of time limit for utilisation plot Time for utilisation of plot can be extended on merit of case and by charging penalty. There is policy for this. (upto 6 years max)
5. Allotment of adjoining plot in saturated estate. Normally in saturated estate properties are allotted only through auction. But for expansion of industry, application will be considered for allotment of adjoining plot on fulfilling condition As prevailing policy circular.
6. Sub-letting of portion of land for installation of Mobile Tele-Communication Tower. For this purpose, policy is framed vide circular dated. 10.9.2007 & Further amended policy & new circular which is available on web-site.
7. Allotment of properties through auction in saturated estate. The Corporation has declared 67 estates as fully developed, in non - saturated Estates, allotment is done as per policy, generally on first-come-first-serve basis. where the allotment is through public auction only. Rest is as per priority.
Tenders are invited through advertisement in local newspapers. Plot/ Shed is allotted to the highest bidder.
8. Fixing of rent for lying cable line and gas pipeline in GIDC estate. Permission can be given on payment of 10% for first 10 years of AP.of land price and other conditions as per circular dated. 7.01.04.
9. Change of purpose from industrial use to commercial use. Permission for change of use from industrial to commercial is banned.

Accounts

1.  What is the Allotment Price of the Plot ?

The allotment price of the each estate under various Regional Manager
offices in Gujarat State is exhibited on the GIDC's website: www.gidc.gov.in

2.  What is the present rate of interest on the installments payable on the plot ?

Present rate of interest is 14% being charged on the outstanding amount on the capital portion on reducing balance method of the allotment price of the plot/shed. This rate is subject to revision every year based on the decision of the Board of Directors of GIDC.

3.  In addition to outstanding amount of interest, what is the rate of interest if the payment is delayed beyond stipulated date of payment of installment ?

Corporation is charging interest on delayed payment of installment equallent to normal rate of interest i.e. 14% at present and in addition to this, 3% Penal Interest is also being charged for the delayed period of the installment. In short, we can say that if the payment is delayed total interest charged on the delayed payment installment is 14% + 3% in addition to over and above normal rate of interest.

4.  What is the rate of interest on Service Charges, Lease Rent, N.A.Assessment bill ?

The amount of Lease Rent, Service Charge and N.A.Assessment is being paid in the year in which it has been assessed. After lapse of 1 year i.e. assessment year of demand at present normal rate of interest i.e. 14% is being charged. No penal interest and interest on delayed payment is charged as per the terms of the Corporation. In short, we are not charging interest for 1 year if party makes the payment within a period in the year it has been assessed. However, if charges are not paid within 1 year, interest will be charged at the normal rate of interest.

5.  Is rate of interest along with penal interest and interest on delayed payment is higher side in comparison with the Bank
rate ?

Corporation is not charging higher interest rate in comparison with the Bank rate Corporation is charging interest on reducing method payable quarterly whereas Banks charging interest on monthly, on compounded rate basis and penal interest and interest on delayed payment is also being added in the capital amount of the outstanding dues and interest is also being further charged, in view of this policy of the Corporation for charging interest is rational and also on lower side in comparison with Bank rate of interest.

6.  How the Service Charge is fixed ?

Service Charge is fixed based on the actual expenditure incurred in the previous year on maintenance and repairs and expenditure on other infrastructure facilities. The rates are being fixed by Corporation's Division offices considering actual expenditure on M & R which is divided with the total allotted area of the particular estate to arrive at rate of service charge applicable. This decision is being taken in consultation with the concerned Industries Association of the Estates.

7.  How NA Assessment is being charged and recovered from the allottees ?

N.A.Assessment is being charged per sq. mts. every year based on the demands received from Revenue Department of Government of Gujarat for the land acquired for a particular estate.

8.  How Lease Rent is being calculated ?

Lease Rent is being charged consider the total land allotted to the allottees i.e. Rs. 1/- per 836 M2 per annum.

9.  What is the amount refunded on eviction of the plot of the Corporation ?

The amount of refund on account of resumption is being calculated keeping in view of the present applicable policy of the Corporation in which normally Corporation charges normal interest,IDP, PI , SC, NAA , LR, infrastrucure upgradation fund, water charges etc. and 1% penalty for the period from date of allotment till date of eviction. Interest is also further charged for 90 days for reallotment of plot. This total recoverable amount is deducted from amount paid by allotee towards plot, revenue charges etc. & if any excess amount is there, it is refunded to thee allotee.