INDUSTRIAL LAND STRATEGIC SOLUTIONS
Transfer of Plots:
Transfer of MIDC plots to individuals or companies to set up industrial units, but you need prior approval from MIDC. Approval is granted under specific conditions, and there may be a transfer premium fee involved.
Change in shareholding pattern / Partners in MIDC records:
MIDC reviews shareholding changes in private limited companies or partnerships, whether among relatives or not. Depending on the situation, MIDC might approve the changes for free or apply a premium fee (STF/Differential premium).
Allotment of Plot under Priority category:
MIDC prioritizes plot allocation for expansion, foreign direct investment (FDI), large projects, and companies on Fortune Global-500 and Economics Times-200 lists.
Extension of Time limit for Obtaining Building Completion Certificate (BCC):
MIDC-allocated plots must follow MIDC policy, including building at least 40% of the structure and starting production within the set timeframe. If the Building Construction Certificate (BCC) isn't obtained in time, an extension can be requested from MIDC.
MIDC allows mortgaging of plots and helps create a Tripartite agreement among the plot owner, MIDC, and the financial institution. This allows the plot owner to secure financial assistance from designated institutions.
Execution of Predetermine Lease:
Before requesting for Mortgage consent, it's vital to have a predetermined lease agreement with MIDC. This agreement is required when seeking financial assistance from a bank or financial institution for a project.
Execution of Final Lease:
After obtaining the Building Construction Certificate (BCC), it's crucial to sign the Final Lease agreement with MIDC to establish the plot's ownership.
Change in Company Name / Address:
MIDC approves changes in company name and address after a thorough review of the application. They carefully assess the requested modifications before granting approval.
Permission for Sub-letting / Sub-leasing of Plot:
MIDC allows sub-letting or sub-leasing of unused plot space, permitting the plot owner to rent it to a third party. Charges are applicable as determined by MIDC.
Permission for Amalgamation of Plots:
MIDC approves the amalgamation of two or more plots after assessing feasibility following its DC rules. This process can waive the marginal space between the plots.
Change in Activity:
MIDC allows changes in manufacturing activity on a plot after a thorough review and approval from the environment department.
Change in Land Use:
MIDC can permit changes in land use from industrial to commercial or vice versa after obtaining approval from the relevant departments.