The Department of Industries, Govt. of Himachal Pradesh on October 08, 2024, notified the amendment in the Himachal Pradesh Industrial Investment Policy, 2019, and Rules Regarding Grant of Incentives, Concessions, and Facilities for Investment Promotion in Himachal Pradesh-2019.
The following has been amended in the Himachal Pradesh Industrial Investment Policy, 2019: -
• In Clause 7(II)(i), a proviso shall be inserted stating that a 10% concession on the fixed rate/premium for land in the Upcoming Medical Devices Park will be granted to MSME enterprises or plot allottees, contingent upon commencing commercial production/operation within two years.
• In Clause 7(II)(ii), a proviso shall be inserted stating that for plot allottees in the Upcoming Medical Devices Park, 25% of the land premium is due before possession, with the remaining 75% payable in three annual installments over three years, and if the allottee opts to pay the balance in a lump sum after production begins, a 10% rebate on the remaining premium will be provided.
The following has been amended in the Rules Regarding Grant of Incentives, Concessions, and Facilities for Investment Promotion in Himachal Pradesh-2019: -
• Rule 6.7(d) shall be substituted, it states that the Director may extend the provisional allotment period by up to 5 years for MSMEs and 6 years for Large and Anchor Enterprises, contingent on full premium payment and no defaults, with extension fees of 10%, 15%, and 20% of the total premium for the 1st, 2nd, and 3rd years respectively.
• Rule 6.11(a) shall be substituted, it states that the Director will permit the Transfer of leasehold rights for plots with payment of any due balance premium and unearned increase in premium based on certain conditions.
[Notification no. - IND-A(F)1-3/2024]
