Direct Land Allotment Initiative Ratified for Investors in Rising Rajasthan

Jaipur, Jan 4 (NationPress) The Rajasthan State Industrial Development and Investment Corporation Ltd. (RIICO) has officially sanctioned the Direct Land Allotment Initiative to streamline the process of affordable land distribution to investors, as confirmed by officials.

Under this initiative, investors who formalized investment proposals with the Rajasthan government during the recently held 'Rising Rajasthan' Global Investment Summit 2024 will receive industrial land parcels allocated for their respective projects at a significantly accelerated pace, contingent on their eligibility.

RIICO has also developed an online portal to facilitate the straightforward allotment of plots, allowing investors to submit applications online through their Single Sign-on (SSO) ID.

The 'Rising Rajasthan' Global Investment Summit-2024 took place in Jaipur from December 9-11 and was inaugurated by Prime Minister Narendra Modi on December 9, 2024.

Industry leaders, investors, diplomats, and global corporations attended the summit, which witnessed the signing of several record investment MoUs.

To transform the signed investment proposals into operational projects, attract further investment, and provide benefits to the investors, the Rajasthan government has established a comprehensive policy framework and launched 10 new policies, including the Rajasthan MSME Policy-2024, Rajasthan Export Promotion Policy-2024, and Rajasthan One District One Product Policy-2024, among others.

Ajitabh Sharma, Principal Secretary of the Department of Industries and Commerce and RIICO Chairman, stated, "For an extended period, investors have requested that the government implement direct land allotment alongside e-auction to facilitate land allocation at a reasonable cost and expedited pace. Following the Chief Minister's directives on this matter, RIICO has crafted a direct allotment initiative that will not only offer land to industries at a competitive rate but also guarantee priority allotment to industrial projects with significant potential. This initiative will accelerate the establishment of industrial projects within the state."

Inderjeet Singh, RIICO Managing Director, remarked, "Land allocation will be conducted with utmost transparency and based on merit, with applications being collected through an online portal. The guidelines related to this initiative have been meticulously prepared. Furthermore, RIICO's unit offices have been informed about the direct allotment initiative and the associated guidelines to ensure that land allocation in industrial zones can be resolved within a specified timeframe."

Eligible investors who have signed the MoU will be able to apply online for up to three plots of varying sizes (in order of preference) at the designated reserve rate for plots in the identified industrial areas of RIICO.

Online registration can be completed using their respective project report and EMD.

Investors will have the option to apply for a maximum of three plots, either within the same industrial area or across different areas, according to their preferences.

All applications will be assessed based on criteria such as proposed capital investment, estimated job creation, production timelines, prior business experience, export-oriented nature of the proposed unit, turnover, and land requirements for future expansions of existing units, as detailed in their submitted project reports.

Following evaluation, the applicant with the highest score will be allocated one land plot as per their indicated preference order.

Each investor will only receive one plot through this process.

In the event that two investors achieve identical maximum scores, the land parcel will be allocated to the investor/project proposing the highest investment.

If no first preference applications are received for any land parcel, the second and third preference applications will be considered in sequence for allotment.

As a special initiative for MSMEs, 50 percent of the available industrial land (including reserved plots) in RIICO-established new industrial zones will be allotted to MSMEs that signed MoUs during the 'Rising Rajasthan' Global Investment Summit 2024 via an online e-lottery at the existing industrial area land rate in identified subdivisions or rural areas.

The applications submitted by MSMEs for land allotment will also be evaluated based on the submitted project report.