Allottees of Institutional land are hereby informed that a view to enable
the institutions to raise funds for their functioning, the Lessor has
decided to grant permission to sub-let a portion of institution premises
subject to the following:-
- scheme is applicable to those institutions which have constructed
the building by fully utilizing the permissible FAR.
- The total area sub-let by an institution would not exceed 25% of
the total built up area.
The institution will be allowed to sub-let a portion of built up
space with prior permission of DDA for service organizations like
banks or organizations of similar nature or organizations which have
been set up under statute such as Companies Act, 1956, Indian Trusts
Act. Etc. or institutions which have the requisite permission of RBI
subject to the following conditions:-
- They will not run shop, restaurents, hotels, any industrial
or manufacturing activity causing noise or pollution or disturbing
the environment of the area in any way.
- The income received on account of sub-letting would be ploughed
back to the institution for creating of assets.
- The sub-letting charges would be required to be paid on an annual
basis in advance.
- The sub-letting charges would be 10% of the rent/service charges
license fee so received from the organization to whom the premises
- As a special dispensation, the organisations which have unauthorisedly
sub-letted and have not paid their outstanding dues for sub-letting
inthe pst are afforded an one time opportunity to pay 5% of the
rental so received , on or befaore 30th June, 2002 failing which
their allotment/lease would be determined without any further
- The institution can also utilize a portion of the premises for
the purpose of residence of the functionaries of the organization
subject to the condition that the area so used does not exceed
15 % of the built up space subject to a maximum of 150 Sq. Mtrs.
The total area sub-let under the above categories and the area
used for residential purposes should , however, noy exceed 40%
of the built up area.
If the total area let out and used for residential purposes
exceeds 40% of the total area, the allotment would be cancelled
and action started for re-entry under the relevant provisions.
In case an institution fails to obtain permission to let, the
subletting charges for unauthorized subletting would be two times
the rental/service charges /licence fee so received, besides the
determination of allotment /lease.
All concerned are, therefore, advised to their own interest to apply
for permission to sub-let in the prescribed form which can be obtained
from the Form Sales Counter at 'D' Block, Vikas Sadan, INA, New Delhi
on payment of Rs. 100/- each on any working day.