The Urban Land ceiling Act (ULCRA) was introduced during Prime Minister Indira Gandhi’s regime. It had come into force on February 17, 1976 to prevent hoarding of land and facilitate the government in executing social and common welfare schemes.
In Maharashtra, MIDC ( Maharashtra Industrial Development Corporation) grants Industrial Land on Leasehold basis for a period of 95 years. The government gives liberty of transferring Leasehold rights by charging transfer fees @10 % of the differential premium. On 3rd Feb 2018 Government of Maharashtra has issued a GR on applicability of Transfer Charges on plots availed ULC exemption.
Salient Features Of GR On Urban Land Ceiling In Maharashtra
The salient feature of the circular are as under :
- MIDC plot holder who has availed the exemption under section 20 of Urban Land (Ceiling and Regulation) Act, 1976 and wants to transfer the plot for industrial use has to pay 25% of the prevailing ready reckoner rate of the area as transfer fee .
- Transfer Fee will be divided in the ratio of 60:40, 60 % will go to the state government & 40 % will go to MIDC.
ASCC MIDC Industrial Consultant
Why Choose ASCC as your partner?
1.Precisely into Industrial Consultancy since 2004.
2. 1500 + Successful Industrial Transactions.
3. Presence across India.
4. Served more than 20+ Fortune 500 Companies.
5. Professionally Qualified Team.
6. Knowledge base of Industrial norms and regulation (State and Central)
7. Assurance of Clear and Marketable Title.
8. Assurance of Smooth Industrial Transaction.
Our Services Includes:
Industrial Real Estate Transaction – Leasehold Industrial Land acquisition through E-bidding, Under FDI and Resale. We also assist in acquiring Freehold Industrial Properties.
Legal Documentation – Preparation and submission of Transfer documents, Liaison with government agencies.
You can reach us at:
ASCC, Ascent Supply Chain Consultants Private Limited,
406 Raheja Arcade, Sector-11,
Navi Mumbai – 400614, MH, India
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