(1) Sub-lease permitted under these regulations and approved by the Corporation shall entail the following fees:— - 7 -
(i) For all sub-leases given after starting of commercial operations by the allottee— 89r of the prevailing premium rate per square meter per year, calculated on the total sub-leased area allotted upto a sub-leasing period of 10 years.
(ii) For all sub-leases given prior to starting of commercial operations by the allottee— 10% of the prevailing premium rate per square meter per year, calculated on the total subleased area allotted upto a sub-leasing period of 10 years.
(iii) For any sub-leases beyond the period of 10 years:— 2% above the rates mentioned under regulation (i) and (ii) above:
Provided, however, that any extension of sub-lease beyond the period of 10 years shall be permitted only with the prior approval of the Chairman of the Goa Industrial Development Corporation.
(2) The sub-lease fees shall be paid in yearly instalments calculated on the premium rate per square meter prevailing on the due date of the payment. However, if the applicant pays the sub-lease fees in lump sum for a period of five years and above, a rebate of 109a of the fees shall be allowed.
(3) In case of delay in payment of yearly instalment of sub-lease fees, a penalty of 1% per month shall be charged for delay in payment beyond 15 days of the due date.
(4) Failure to pay the yearly instalment beyond a period of 12 months, the sub- lease shall be deemed as unauthorized sub-lease.]
13. Penalties for unauthorized handing over of the possessions.— (i) In the event allottee sub- leases or hands over the physical possession of the land/plot to a third party, it will be deemed to be an unauthorized sub-lease which shall not be recognized for any purpose, and the Corporation shall levy a penalty equal to 6[30% ]per year or part thereof of the prevailing sub-lease fees, calculated from the date of such unauthorized sub-lease, for having violated these regulations in addition to the applicable sub- lease fees. Should the allottee fail to regularize the unauthorized sub-lease by payment of fees and penalty within a notice period of 30 days, the Corporation shall re-enter upon and resume the possession of the plot.
(ii) Any cases of unauthorized sub-lease prior to the Notification of these regulations shall be placed before the Board of the Corporation for a decision and in case the Board decides to regularize or approve such sub-lease, the same shall be subject to the allottee paying a penalty fee amount equal to 20% per year or part thereof of the prevailing sub-lease fees, calculated from the date of such unauthorized sub-lease, for having violated the terms and condition of the lease in addition to the applicable sub-lease fees. The Board shall not be authorized to approve/regularize any cases which fall under the category of prohibited sub-leases specified under clause 11 (i). However based on the merits, the Board may decide to refer any such case to the Government for a decision:
Provided that the total penalty to be charged under clause 14 (i) & (ii) above shall not exceed an amount equal to 3 times the prevailing sub-lease fees, calculated on the basis of annual sub-lease fees.
CHAPTER-III Surrender of plots