The allottee within a period of 3 years from the date of these regulations coming in to force or within a period of 5 years from the date of taking over possession whichever is later, shall compulsorily utilize to the extent of at least6[30% of the land/plot area allotted ], for construction of factory or other building. In case of the failure on part of the allottee to utilize the minimum prescribed area for built-up, the Corporation shall levy 50% additional lease rental on the permissible but unutilized area of the said plot. However, any relaxation, indulgence granted by the Board of Directors of the Corporation in deserving cases should not be treated as waiver on behalf of the Corporation and will not prejudice or effect its rights to initiate action against the defaulting allottees.
In case of the failure of the allottee to comply with the above plot utilization norms, the Corporation will have the right to repossess the unutilized portion of the land without any compensation to the allottee, subject to guidelines approved by Board from time to time.