MIDC plot transfer process in Maharashtra
MIDC plot transfer process in Maharashtra; A few steps involved are mentioned below. Here’s a general overview:
Eligibility:
- The original plot holder must have obtained the Building Completion Certificate (BCC) and commenced industrial production. He has a midc transfer order and completed the lease deed.
- The shareholding of the original directors/shareholders cannot fall below 51% for five years from the date of possession.
Application:
- A transfer application must be submitted to the MIDC office along with the prescribed fees and documents. You can find the application form and fee details on the MIDC portal single window system:
- The documents required will vary depending on the specific type of property and the nature of the transfer. some common documents include:
- Sale Agreement
- Share transfer documents
- No Objection Certificate (NOC) from the bank, if there is a loan outstanding
- Clearance certificates from all statutory authorities
- Other documents Required
- Request letter from seller and buyer
- Detailed Project profile details of Buyer
- Project profile flow chart
- Declaration on Form No. A & B
Processing:
- After application is submitted, the MIDC will verify the documents and the eligibility of the transfer.
- If everything is in order, the MIDC will issue a demand letter known as letter of approval.
- The transfer deed or deed of assignment must be registered with the sub-registrar’s office.
Payment of dues:
- The transferor is responsible for paying all outstanding dues to the MIDC, including rent, water charges, and electricity charges.
Additional fees:
- In addition to the application fee. Transferor required to pay a differential premium. which is a percentage of the current value in the records of MIDC.
Timeframe:
- The entire transfer process can take anywhere from three to six months, depending on the complexity of the case.
We specialise in Industrial property transactions. Buying, selling, leasing transaction or need help with MIDC / MPCB / DISH Factory license documentation across Mumbai, Navi Mumbai, Thane & Raigad.
we can assist or guide you through the process and ensure a successful transaction. Let’s contact us for more details.
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