The lessee shall have the limited ownership on the land leased till the lease subsists and shall have the right of assignment only for the purpose of taking a loan for the development of the industry 22[or for pledging as collateral security for a loan taken by the lessee or some other industry owned by the same management]. The lessee shall have no right to sell the land:
18 Deleted by Notification no. F.9(234)Rev.6/07/21, dated 13.08.09.
19 Substituted by Notification no. F.1(58)Rev.6/2017/01, dated 02-01-18.
20 Added by Notification no. F.11(1)Rev.6/04/pt.13, dated 19.05.11.
21 Amended by Notification no. F.9(53)Rev.6/2021/09, dated 03-02-2022.
22 Inserted by Notification no. F.9(234)Rev.6/07/20, dated-17.07.09.
23[(i) Provided that the land can be pledged as collateral security only in favour of industrial Financial Corporation of India, Rajasthan Finance Corporation, IDBI, ICICI, LIC, IRBI, HDFC, SIDBI, EXIM Bank, Co-operative Banks and any Public Fincancial Institution as defined in the Public Financial Institution Act or Scheduled Banks or private lending agencies subject to ensuring that the lessee has cleared all the outstanding dues of the lessor and the lessee creates first charge in favour of the State Government and second to the financing body or bodies.]
24[(ii) Provided further that once the land has been utilized for the purpose for which it was allotted within the period specified in rule 7, the lessee may, with the permission of the Allotting Authority transfer his right or interest in the whole land, so leased out, on the following conditions:-
(a) In case of government land allotted under these rules, he shall pay 24a[50% of prevailing market value of land and building assessed as per the provisions of the Rajasthan Stamp Rules, 2004] after deducting allotment price charged under rule 3A and the transferee shall pay 50% of excess amount of yearly lease land mentioned in rule 5 and other conditions of lease shall be remain unchanged.
(b) In case of converted Khatedari land allotted under these rules for industrial purpose, the transferee shall pay 50% excess amount of yearly lese rent mentioned in rule 5 and other conditions of lease shall be remain unchanged.]
25[(iia) Provided also that if after grant of permission the transferee has failed to execute the lease deed and further transferred the allotted land without prior permission of allotting authority, such transfer may be regularized by the allotting authority on payment of penalty of Rs. 3000/- for each transfer. The lease deed may be executed in favour of such transferee for the remaining period of lease may be executed in favour of such transferee for the remaining period of lease.
The transferee shall pay 50% excess amount of the yearly lease rent mentioned in rule 5 on such transfer.]
(iii) Provided also that in case an industrial plot is proposed to be divided or sub-divided for any purpose, whatsoever, prior permission of the State Government in the Revenue Department shall be obtained by the allotting authority.
26[(iiia) Provide also that if any industrial plot is divided or sub-divided without obtaining prior permission of the State Government, the lessee shall apply for permission of division or sub-division to the allotting authority along with a copy of the challan depositing an amount of Rs. 3000/. The allotting authority, with prior approval of the State Government, may regularize the division or sub-division.]
23 Inserted by Notification no. F.9(234)Rev.6/07/20, dated-17.07.09.
24 Substituted by Notification no. F.9(43)Rev.6/14/17, dated 19-11-14..
24a Inserted by notification no. F.9(72)Rev.6/2024/28, dated 29-11-2024 25 Inserted by Notification no. F.11(1)Rev.6/04/21, dated 31.07.12.
26 Inserted by notification no. F.6(54)Rev.6/2001/pt/108, dated 25-09-19.
27[(iv) Provided also that, in case of sick unit as per RBI guidelines, the lessee with the prior permission of the State Government, may transfer his right or interest in the leased land sub-divided under the above proviso on the following conditions:-
(a) That NOC from financial Institutions/Bank shall be obtained, in case land is mortgaged.
(b) that the conditions of lease shall remain unchanged.
(c) that the transfree shall pay additional 100 percent excess amount of the proportionate yearly lease rent applicable from the date of transfer of right or interest in leased land.
(d) that the transferee shall use the land for the Industrial purpose only.]
28[(e) that in case of government land allotted under these rules, the transferee shall pay 50% of prevailing market price of land after deducting allotment price charged under rule 3A.]
(v) 29[Provided also that no permission of transfer under the above proviso, shall be allowed in case of a Government land unless the unit is declared sick by Board of Industrial and Financial Reconstruction (BIFR).]
(vi) Provided also that in case of any doubt of any kind the allotting authority shall refer the matter to the State Government in the Revenue Department whose decision shall be final.
30 [Provided also that the developer of micro, small and medium enterprises clusters, as per approved plan, may transfer his right or interest in the whole land, so leased out to entrepreneurs. The conditions of lease remaining unchanged. The transferee shall pay 50% excess amount of the yearly lease rent mentioned in fule 5 on such transfer.]