Over a period of time, MIDC has issued various circulars for revision of its guidelines on the development of plots allotted by MIDC. The main reason behind frequent revision of the guide lines may be as under:-
- Limited availability of land with MIDC and difficulties faced by MIDC for new acquisition.
- Non utilization or under utilization of the land allotted by MIDC.
- Representation given by the Industrial Association or entrepreneurs on the difficulties faced by them for timely setting up the projects.
Salient features of various circulars issued by the MIDC over a period of time are as under:-
1. MIDC vide Circular No. 389 dated 17/08/2004 & G-05 dated 24/04/2006 accorded development period of 3 to 5 years as under:
| Sr.No | Category of Industrial Area | Development Period | Use of Minimum Floor Space Index (FSI) |
|---|---|---|---|
| 1 | “A” and “B” | 3 years | 10% |
| 2 | “C” | 4 | 10% |
| 3 | “D” and “D+” | 5 years | 10% |
2. MIDC vide its Circular No. 152 dated 17/04/2012 enhanced the Minimum Utilization of FSI from 10% to 20%.
3. MIDC vide its Circular No. C05579 dated 21/06/2019 made following changes in development guidelines:
| Sr.No | Category | Development Period | Use of Floor Space Index (FSI) |
|---|---|---|---|
| A | Online direct allotment and E-bidding allotment | ||
| 1 | “A” and “B” (Total 5 years) |
First 3 years | 20 % |
| Next 2 years | 20 % | ||
| 2 |
“C” (Total 6 years) |
First 4 years | 20 % |
| Next 2 years | 20 % | ||
| 3 |
“D” and “D+” (Total 7 years) |
First 5 years | 20 % |
| Next 2 years | 20 % | ||
| B | For plots allotted under priority and for industrial expansion category. | ||
| 1 |
“A”, “B”, “C”, “D” and “D+” (Total 4 years for all categories) |
First 2 years | 20 % |
| Next 2 years | 20 % | ||
| C | For plots allotted on a priority for projects with foreign investments. | ||
| 1 |
“A” and “B” (Total 5 years) |
First 3 years | 20 % |
| Next 2 years | 20 % | ||
| 2 |
“C”, “D” and “D+” (Total 6 years) |
First 4 years | 20 % |
| Next 2 years | 20 % | ||
As per the current MIDC policy, the plot holders are required to utilise minimum 40% FSI (in two stages each of minimum 20%) within the prescribed period as mentioned above and get the Building completion certificate (BCC). The unit must also go into production.
Plot holders must obtain a Building Completion Certificate (BCC) for at least 20% of the Floor Space Index (FSI) within the first development period failing which extension of time limit will have to be obtained on payment of additional fee as per the prevailing MIDC norms. However, additional development period mentioned above will not be applicable for such plots.
The Plots allotted subsequent to issuance of MIDC circular dated 21 June 2019 who have consumed minimum 20% of the FSI, will be eligible to get Two Years development period to utilise balance 20% FSI with effect from 15 May 2023.
It is mandatory for plot holders to obtain the Building completion certificate (BCC) and go into production within development period prescribed above.
Disclaimer:
Our company has neither been appointed nor authorised by MIDC to make this blog. However, we have done in-depth study of various MIDC circulars and provided information on this blog in the public interest specially for the people holding MIDC Plots. While every effort has been made to ensure the accuracy of the information provided by us but we still advice you to kindly go through the relevant MIDC Circulars or seek professional guidance before taking any decision. The information provided on this blog should not be construed as legal advice or a substitute for professional consultation.
Why Us:
- Operating PAN India.
- A well-established Industrial Broking Company.
- One Stop Solution for all Industrial Consultancy related services.
- In-depth knowledge of Industrial Policies and Regulations.
- Closure of 500 Plus Industrial Transaction.
- Served 50 + Big MNCs which includes 22 Fortune 500 company.
- Assurance of Clear and Marketable Title.
- Time Bound and Hassle Free Transaction.
- A separate legal and Liaoning Team
To know more about us, Click here
Reach Us at
Ascent Supply Chain Consultants Private Limited (ASCC),
406 Raheja Arcade, Sector-11, CBD Belapur,
Navi Mumbai – 400614, MH – India.
Tel: 022-4897-4888
Email: info@ascc.in
Leave a Reply