What is the procedure of transfer of property in case of MIDC leased property?

Response

MIDC considers the application for transfer of leasehold rights of the MIDC Plot to the new user, if there is a minimum 20% construction and utilisation and also subject to various other conditions. MIDC has amended FSI utilisation norms so that the optimum utilisation of the land can be done which would result in Industrial and Economic Growth of the Company. MIDC needs various documents from the Transfer or and the Transferee in order to consider the application.

There are various guidelines issued by MIDC for the transfer of leasehold rights of plots in MIDC area. The steps that are normally followed for completion of the transfer process of MIDC Plots include submission of application to MIDC and then scrutiny of application by MIDC. Then the consent of MIDC and payment of transfer charges to MIDC and transfer order by MIDC and then the preparation of deed documents and the adjudication by the collector and payment of stamp duty and finally the execution of the deed.

MIDC has introduced some guidelines for transfer of industrial sheds, plots, industrial galas, etc. MIDC Land Transfer Process is presented article explains these guidelines. MIDC has issued various guide lines from time to time to regulate transfer of the leasehold rights of the MIDC plots.

Reference: Land Acquisition Act, 2013

202100192-20210021-1210

LAWAYZ-2023-193

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