- MIDC has issued various guide lines from time to time to regulate process for giving the MIDC plots on Leave & License basis to any third party by the Lessee of the plot. In this connection, following MIDC Circulars are relevant in the present context:-
- MIDC Circular No.90/2009 dated 29 Oct, 2009. Please click here to view MIDC Circular
- MIDC Circular No. 110/2010 dated 26 May, 2010. Please click here to view MIDC Circular
- MIDC Circular No. 69977/2013 dated 05 Mar, 2013. Please click here to view MIDC Circular
- As per the present norms of MIDC, the MIDC grants the Sub-Letting permission as follows:
- The Lessee should have consumed FSI and obtained the B.C.C as per MIDC norms.
- Sub-Letting permission can be given by MIDC to following purpose only
- Industrial to Industrial
- Commercial to Commercial
- IT, ITES to IT, ITES
- Sub-Letting permission can be granted by MIDC up to 10 Years at the request of Lessee on recovery of Sub-Letting charges in advance. MIDC will review the land rate after every 3 years and if there is any change in MIDC land rate, then MIDC will recover the differential Sub-Letting charges from the Lessee.
- At present Sub-Letting charges are 3% of MIDC land rate for Industrial and Commercial purpose and 1% for IT & ITES purpose, which is to be paid in advance for the period of sub-letting granted by MIDC.
Plot Size : 4000 Sq. Mtrs.
Area Sub-letted : 1000 Sq. Mtrs.
MIDC Rate : Rs.5,000/- PSM
Sub-Letting Charges = Area Sub-letted X MIDC Rate X 3 %
= 1000 X 5000 X 3% = Rs.1,50,000/- Per Annum
- MIDC follows a set procedure throughout Maharashtra for giving the Sub-Letting Permission to the conditions stipulated in Para 2 above have been met.
- ASCC Pvt. Ltd. can assist its clients for obtaining MIDC Sub-Letting permission.
- Role of ASCC for obtaining Sub-Letting Permission and documentation etc. has been explained in a ‘Flow Chart’ placed below:-
The entire process takes about one month for obtaining MIDC Sub-Letting Permission; therefore application for obtaining Sub-Letting permission should be made to MIDC one month prior to start the Sub-Letting period.
If you need any help in sub-letting process then contact us on email@example.com, 022-489-74888. We shall be happy to help you!