New Delhi: Delhi government today decided to allow conversion of built up industrial plots from lease hold to free hold on payment of conversion charges irrespective of size of the plot in the capital.

He said the scheme covered all industrial built up plots developed by the state government's Industry Department and the Delhi State Industrial Development Corp, including the industrial sheds.

The conversion would be allowed only for the industrial plots on which building had been constructed and Completion Certificate ('D' form) had been obtained. The scheme was optional and the brochure along with the application form was available with the Industry Department at a payment of Rs 100 per form. A processing fee of Rs 500 would also be charged.

The applicable conversion fee per square meter for Industrial plots for zone-wise would be: South Zone Rs 26,080, West Zone Rs 17,870, North Zone (other than Mangolpuri) Rs 17,870, Mangolpuri Industrial Area, Keshavpur Industrial Area and Manufacturing Udyog Nagar Rs 19,960, East Zone Rs 11,150, Narela and Badli Rs 7,500.

The one time conversion fee would be calculated as: Plot area x Notified land rate x 10/100. There would be remission of 40 per cent for the original lessees and there would be surcharge of 33-1/3 per cent on the conversion fee in case of GPA holders.

The applicants would have to clear all the pending dues payable like ground rent, regularisation charges and all other pending dues. The payment would have to be made by Pay Order or Bank Draft in favour of Commissioner of Industries.

Underlining the advantages of the free hold policy, Delhi Industry Minister said it would bring transparency and efficiency, as the subsequent sale of the industrial plots would also be regularised. After this, entrepreneurs of the capital would be in a position to raise loans against the property whereas it would also lead to the revenue increase for the government through the payment of stamp duty for genuine transfers, he added.

It would also reduce the litigation and there would be uniformity of the land policy in Delhi. The scheme would be applicable to all the five Industrial Areas in the city developed by the Industry Department as well as the eight industrial areas developed by DSIDC.

A separate scheme was already in force for the free hold of the industrial plots in 13 industrial areas developed by Delhi Development Authority.

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