Jaipur, April 11: In a significant move aimed at accelerating industrial development and economic activity in Rajasthan, the Rajasthan State Industrial Development and Investment Corporation (RIICO) has granted conditional approval for issuing No Objection Certificates (NOCs) to the Rajasthan Financial Corporation (RFC) for the sale of RIICO-allotted properties.
The decision is being seen as an important step towards strengthening the state’s ease of doing business framework and unlocking the value of long-unused premium land parcels.
Properties across key industrial hubs
Over the years, RIICO had allotted land parcels to RFC for office buildings and residential quarters in several industrial areas across the state, including:
- Banswara
- Kota
- Alwar
- Jhunjhunu
- Abu Road
- Balotra
- Jalore
- Bhiwadi
These plots were allotted either at prevailing market rates or at concessional rates, depending on the period and purpose of allotment.
RFC had sought NOCs from RIICO to proceed with the sale of these properties, which has now been approved as per applicable norms.
Conditional approval for concessional-rate plots
RIICO clarified that:
- For plots allotted at the prevailing rate, the NOC has been issued directly.
- For plots allotted at concessional rates, the NOC will be issued only after RFC deposits the concession amount along with applicable interest.
This ensures that the original financial benefit extended at the time of allotment is duly recovered before transfer.
Land-use purpose to remain unchanged
RIICO has also made it clear that the land or property must continue to be used for the purpose for which it was originally allotted.
This condition is aimed at ensuring that the transfer supports legitimate commercial and industrial utilisation rather than speculative land conversion.
Boost to commercial office and real estate development
The move is expected to help bring long-idle premium plots back into productive use, opening the door for:
- Commercial office spaces
- Institutional infrastructure
- Real estate projects
- Business support facilities
- Ancillary industrial services
Officials believe the step will improve land monetisation, revive underutilised assets, and support fresh investment-led industrial growth in Rajasthan’s major business corridors.
