Does RIICO provide land to Service Sector?
Yes, RIICO also provides land to Service Sector like hospitals, warehousing, Educational Institutions etc. If land measuring 10,000 sqm. or more in normal industrial areas (total land allotted in area is less than 90%) is required for setting-up of warehousing, inland container depots, rebate in land rates are given ranging from 5% to 12.5% depending upon size of plot and category of area. In slow-moving industrial areas, where less than 50% area has been sold out in more than five years, 10% rebate in rate of development charges is allowed for allotment of 10,000 sqm. size plot. Additional rebate @ 0.5% per 1000 sqm. In case of plot larger then 10000 sqm is also permitted. Total rebate shall be limited to 25%. Land for nursing homes can be allotted at par with industry in dormant and slow-moving industrial areas. In normal industrial areas, rate shall be 1.5 times of industrial rate. Land for hotel is allotted through auction only.
