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State of Rajasthan - Section

Section 6 in The Rajasthan Urban Improvement Trust (Disposal of Urban Land) Rules, 1974

6. [ Determination of premium. [Rule 6 Substituted by Amended Notification No. F9(15) UD/3/2001, dated 15-1-2002, published in Rajasthan Gazette Extraordinary, Part VI-B, dated 29-7-2002.]

(1)The premium (nazrana) shall ordinarily be determined by public auction but the amount of reserve or the minimum premium shall be the reserve price which shall be decided by the Committee referred to in rule 12 of these rules.
(2)The minimum premium (reserve price of fixed price) shall be worked out after adding the following items:
(i)cost of undeveloped land this would be subject to change to the extent of final cost of compensation determined by the competent court;
(ii)cost of development based on the prevailing PWD Schedule of rates for the area;
(iii)[20%] of the items (i) and (ii), to cover administrative and establishment charges; and
(iv)20% of the items (i), (ii) and (iii) to cover maintenance costs for a period upto five years.
(3)An extra 10% and 20% of the price/ premium shall be payable for "preferential" and "special preferential" plots respectively.Note. - For the purpose of this rule preferential and special preferential plots means the plots which are demarcated as such by the Trust.]
6. Determination of Premium.- The premium (Nazrana) shall ordinarily be determined by public auction but the amount of reserve or the minimum premium shall be the reserve price which shall be decided by the Committee referred to in rule 12 of these rules.Explanation.- The minimum premium (reserve price or fixed price) shall be worked out after adding the following items:1. Cost of undeveloped land,2. Cost of development, and3. 20% of the item No. (2) to cover administrative and establishment charges.4. 15% share of the sale price to be transferred to municipalities for maintenance Urban Improvement Trust Schemes.Subject to the following conditions:-(a) Minimum of Rs. 5.00 per sq. meter where underground severage is provided.(b) Minimum of Rs. 3.25 per sq. meter in all other cases.