- MIDC has issued various guidelines 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.
- 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 purposes and 1% for IT & ITES purpose, which is to be paid in advance for the period of sub-letting granted by MIDC.
Example:-
Plot Size : 4000 Sq. Mtrs.
Area Sub-letted : 1000 Sq. Mtrs.
MIDC Rate : Rs.20,000/- per sq.m
Sub-Letting Charges = Area Sub-letted X MIDC Rate X 3 %
= 1000 X 20,000 X 3% = Rs.6,00,000/- Per Annum
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.
Documents Required :
Sr.No. | Document Name | Is Mandatory |
1 | Request Letter from the Sublette/s containing the constitution of their firm [Mandatory] | Mandatory |
2 | Certified copy of Leave and License Agreement with Registration Proof [Mandatory] | Mandatory |
3 | Plan showing the area to be sub-letted/Area proposed to be sub-letted [Mandatory] | Mandatory |
4 | Date of Occupation of each of Sub-lettee/s [Mandatory] | Mandatory |
5 | The project report should also highlight if any open space is sub-letted or to be sub-letted OR If any area occupied/proposed to be occupied | Non Mandatory |
6 | NOC of the financial institution(if the plot is mortgaged) | Non Mandatory |