Amendment status not verified — confirm the current text below against the official source.
Sub-leasing fee.— Sub-lease permitted under these regulations and approved by the Corporation will entail the following fees:— (i) For all sub-leases given after starting of commercial operations by the allottee:- 6% of the prevailing premium rate per sq. mts. per year, calculated on the total plot area allotted upto a sub-leasing period of 10 years. (ii) For all sub-leases given prior to starting of commercial operations by the allottee:- 8% of the prevailing premium rate per sq. mts. per year, calculated on the total plot area allotted upto a sub-leasing period of 10 years. (iii) For any sub-leases beyond the period of 10 years upto a maximum of 15 years:- 10% of the prevailing premium rate per sq. mts. per year, calculated on the total plot area allotted. Provided however that any extension of sub-lease beyond the period of 10 years upto a maximum of 15 years shall be permitted only with the prior approval of the Chairman of the Board. (iv) For any sub-leases beyond the period of 15 years shall be decided by the Board on case to case basis considering the merits of each case and entail fees equal to 10% of the prevailing premium rate per sq. mts. per year, calculated on the total plot area allotted. -41- (v) The total sub-lease period, during the tenure of the original or extended lease period granted by the Corporation to an allottee or subsequent allottees created by transfer of lease hold rights, shall not exceed 15 years without prior approval of the Board. However, in case of small scale and micro industries where the unit has been into commercial operations for more than 10 years, the Corporation may permit sub-lease for the remainder period of the lease granted and the extended period thereon subject that the allotted plot area does not exceed 1200 sq. mts. sub-lease fees for such extended period shall be 10% of the prevailing premium rate per sq. mts. per year, calculated on the total plot area allotted.