Industrial Plot No.1, Sector 90, Noida

Industrial Plot No.1, Sector 90, Noida www.infralive.com 42 Infra LIVE June 15, 2022 capability, experience and concept with pre-feasibility Report in accordance with predetermined criterion and laid down procedure. To avail this package, the Developer Company must have a mini- mum annual turnover of Rs 100 crore for the last three years. year timeframe) and a land area of 1500 aces for each project, there should be special investment pack- agewhich include the following: - 8.9.2 Reputed and experienced developer companies shall be invited to avail this package. The Developer Company shall be selected on the basis of its financial capacity, technical 8.9 Development of High- techTownships De t a i l ed po l i c yha s be en declared separately. The impor- tant points are as follows: - 8.9.1 It is proposed that for promoting development of such townships in the private sector, involving a minimum investment of Rs 750 crores (during the five Box-B: Extracts of “The Industrial and Service Sector Investment Policy 2004” by Govt of UP any sub division of the demised plot thereof. (III) It is further agreed by and between the lessor and the lessee that: (a) That if it is found that the allotment or the lease has been obtained by suppres- sion of any fact or mis- representation, mis- statement or fraud or if there has been, in the opin- ion of the lessor, any breach of the condition of the lease or if the lessee does not abide by the terms and conditions of the lease deed the lease may be determined and the entire money paid by the lessee will be forfeited and t h e p o s s e s s i o n o f t h e demised plot and the struc- ture raised thereon, unless removed by the lessee within the time specified in the notice by the lessor may be taken over by the lessor and lessee will not be entitled to any compensation. (l) Any inaction, relaxation or concession whatso- ever granted by the les- sor to the lessee shall not constitute a condonation of the breach of the terms and conditions of this lease deed nor con- stitute a waiver of the rights of the lessor to take action against the lessee for such breach of the terms and conditions including for determina- tion of the lease deed and resumptionof site. able by any other govern- mental authority. (w) The lessee shall not be permitted to transfer the demised plot before making the unit func- tional and building con- structed thereupon. However, at the discretion of CEO the transfer may be permitted after making the unit functional and building constructed thereupon on such terms and conditions as the l es sor may impose including but not limited to levy of transfer charges as prevailing at that time of t r ans f e r s uch t r ans f e r charges shall be paid to the lessor. At present, the trans- fer charges are 10 per cent of the prevailing rate of allot- ment on the date of transfer of the plot. However, the rate of transfer charges is liable to be revised upward by the CEO of the lessor or any person authorized by him in this regard. Upon transfer, the extension charges, if paid, by the Lessor are nei- ther refundable nor adjust- able. Any action or pur- ported action done by the lessee for transfer of the plot without prior written permission of t h e l e s s o r s h a l l b e deemed to be null and void, ab initio. The deci- sion of Chairman / Chief Executive Officer for all purpose will be final and binding on the lessee. (y) The lessee shall not cause lessee. In the event of extens ion not being granted, cancellation may be effected and the lease deed revoked. In such event, forfeiture of the premium and the lease rent paid may be affected in accordancewith the Policy of the lessor in vogue on the date of cancellation as afore- said. (u) That the lessee shall use the demised plot only for the c o n s t r u c t i o n IT/PARK/ITES according to the plan approved by the lessor and in accordance with the building regulations and directions formulated under the provisioned of U.P. Industrial Area Devel- opment Act 1976 and for no other purpose without prior written consent of the Lessor and subject to such terms & conditions as the lessor may impose…. (v) In the event the lessee is d e s i r o u s o f e f f e c t i n g change in constitution after the completion of the project the lessee shall pay proportionate transfer charges @ 10 per cent of the prevailing rate of allot- ment as on the date of trans- fer. All cost and expenses arising out of execution of instruments, including prep- aration, stamping and regis- tration of transfer deed shall be borne by the lessee. The lessee / transferee shall also be liable to pay all other taxes, duties, if any, charge-