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State of Rajasthan - Section

Section 75 in The Rajasthan Urban Improvement (Change of Use of Residential Land or Premises for Commercial Purposes) Rules, 1974

75.

% of the appreciated value of such land and/or premises subject to a maximum of Rs. 200/- per sq. yard if such change of use is only for hotel purpose and Rs. 100/- per yard if the change of use is only for cinema purpose.(b)Where the change of use is in respect of land or premises with lease hold rights 5% of the appreciated value of such land/or premises which shall be subject to revision every 15th year in the first instance and every 10th year later on and the amount of upward revision shall at each state be not less than 24% but shall not exceed Rs. 200 per sq. yard if such change of use is only for hotel purpose and Rs. 100/-per sq. yard if the change of use is only for cinema purpose.
(3)A committee consisting of the Collector of District, chairman, U.I.T./President, Municipal Board/Council Executive engineer, P.W.D. and Dy. Town Planner shall assess the present market price of the land or use as residential area and the market price of the area after change of land use into commercial purpose and submit the report to the State Government where the proposals of the Committee shall be scrutinised by a Committee consisting of the Financial Commissioner, Secretary, Town Planning Department and Chief Town Planner and rates, decided finally by the latter committee shall be deemed to be the appreciated value of any land and/or premises.
(4)The amount of premium may be realised by the Government in the following manner:-
(1) For amounts upto Rs. 10,000/- One installment.
(2) For amounts from Rs. 10,001/- to 25,000/- In two equal yearly installments.
(3) For amounts Rs. 25,000/- to Rs. 50,000/- In three equal yearly installments.
(4) For amounts more than Rs. 50,000/- In four equal yearly installments.
(5) The rate of interest shall be 9% per annum and in case ofdefault of a payment in time, extra 3% shall be charged as penalinterest.