DRAFT ALLOTMENT ORDER FOR AEROSPACE PARK

What the document governs

The Draft Allotment Order for Aerospace Park is a template issued by the State Industries Promotion Corporation of Tamilnadu Ltd. for allotting plots in a SIPCOT Industrial Park on a ninety-nine year lease. The reference number and date are not completed in the supplied draft. The name of the allottee, industrial park, plot number, extent, water allocation and proposed manufacturing activity are also blank.

The plot extent may be revised according to measurements taken when the site is handed over. The amount payable would then be adjusted accordingly.

Who it affects

The Draft Allotment Order for Aerospace Park affects an industrial applicant receiving a plot allotment from the State Industries Promotion Corporation of Tamilnadu Ltd. It requires the allottee to accept the allotment, make payment, register a lease deed, take possession and implement the industrial project within prescribed periods.

Main payments and charges

The draft payment schedule includes:

• Plot cost after a 20% Government subsidy for the allotted extent.
• Frontage charges and 50% of the capital cost of water supply, where applicable.
• An interest-free caution deposit calculated at 5% of the plot cost, refundable if the project is implemented within the stipulated time.
• Rs. 100 as advance annual lease rent for the full lease period.
• Charges for trees, wells and structures on the plot, where applicable.
• Future apportioned development costs, maintenance charges, taxes and infrastructure expenses.
• A proportionate contribution of 50% of project cost if infrastructure work is taken up under the Participatory Infrastructure Development Programme.

Deadlines and consequences

The allottee must:

• Accept within 7 days, or face automatic cancellation and forfeiture of the initial deposit.
• Pay the full amount within 30 days, with the same cancellation and forfeiture consequence for failure.
• Execute and register the lease deed within 45 days after payment. Delay attracts a penalty of 0.5% of the prevailing plot cost for every 30 days.
• Take possession in an “as is where is” condition within 15 days after lease registration.
• Implement the project within 36 months, unless an extension is granted under the prevailing policy.

Construction and site controls

The allottee must begin building construction within six months and complete it within 30 months. Buildings must comply with applicable local body, development, building and environmental requirements. A setback of at least 5 metres must remain open on every side. Wells and bore wells require prior permission, and drainage, culverts and water connections must follow SIPCOT requirements.