Rajasthan Investment Summit: RIICO Launches Direct Land Allotment Initiative for Swift Affordable Land Distribution

Jaipur, Jan 4 (NationPress) The Rajasthan State Industrial Development and Investment Corporation Ltd. (RIICO) has recently endorsed the Direct Land Allotment Initiative to streamline the process of affordable land allocation for investors, officials reported.

This initiative enables investors who finalized investment agreements with the Rajasthan government during the recently held 'Rising Rajasthan' Global Investment Summit 2024 to receive industrial land parcels for their projects at an accelerated rate based on their eligibility.

RIICO has also created an online platform to simplify the plot allocation process, allowing investors to apply online using 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.

The summit attracted a diverse audience, including investors, industry leaders, diplomats, and global corporations, leading to the signing of numerous significant investment MoUs.

To transform the signed proposals into operational projects, draw in investment, and offer incentives, the Rajasthan government has developed a policy framework and introduced 10 new policies, among them the Rajasthan MSME Policy-2024, Rajasthan Export Promotion Policy-2024, and Rajasthan One District One Product Policy-2024.

Ajitabh Sharma, Principal Secretary of the Department of Industries and Commerce and RIICO Chairman, stated, "Investors have long requested that the government implement direct land allotment alongside e-auction to ensure land is allocated at a reasonable cost and speed. Following the Chief Minister’s directives, RIICO has formulated a direct allotment scheme that will not only provide land to industries at an affordable price but also give priority to high-potential industrial projects. This scheme aims to hasten the establishment of industrial ventures in the state."

Inderjeet Singh, the RIICO Managing Director, remarked, "Land allotment will be conducted with full transparency and based on merit, with applications submitted via the online portal. Guidelines for the scheme have been established, and RIICO's unit offices are informed about the direct allotment scheme to ensure timely land allocation in industrial zones."

Eligible investors who have signed MoUs can apply online for up to three plots of varying sizes (in order of preference) at the set reserve rate in designated RIICO industrial areas.

Online registration will be facilitated through their project report and EMD.

Investors can apply for a maximum of three plots in the same or different industrial areas based on their preferences.

All applications will be assessed based on factors such as proposed capital investment, expected job creation, production timelines, prior business experience, export potential, turnover, and land requirements for future expansion detailed in their project reports.

After evaluation, the applicant with the highest score will be awarded one land plot as per their top preference.

Only one plot will be allocated to each investor through this process.

In the event of a tie with identical scores, the land will go to the investor proposing the highest investment.

If no first preference applications are received for a parcel, second and third preference applications will be considered accordingly.

To support MSMEs, 50% of saleable industrial land (including reserved plots) in RIICO's newly established industrial zones will be allocated to MSMEs that signed MoUs during the 'Rising Rajasthan' Global Investment Summit 2024 via an online e-lottery at the prevailing industrial area land rates in specified subdivisions or rural regions.

Applications submitted by MSMEs for land allotment will also be assessed based on their project reports.