MIDC's special extension scheme for delayed plot development

Aurangabad: The Maharashtra Industrial Development Corporation (MIDC) has implemented a special extension scheme to regularize the plots in the industrial sectors that have been unused or have been developed but not used within the prescribed time frame. According to reports, 5 to 10 percent of the plot holders in the industrial areas of eight districts in Marathwada have not developed their plots and failed to start production.

MIDC officials noticed that many entrepreneurs have not constructed their units according to the approved map. This led to a special extension scheme for such plot holders on January 23. The special extension scheme allows plot holders who have approved construction plans but were unable to complete construction, to do so by paying a delay fee. Applications for the scheme can be submitted to the regional officers of MIDC until June 30.

However, for those plot holders who have not developed their plots even after being granted multiple extensions, MIDC will take possession of the plots. MIDC regional officer, Chetan Girase, stated that the corporation has noticed that many entrepreneurs have not constructed their units according to the approved map, which has led to the implementation of this special extension scheme.

In order to set up industry or business in the industrial estates, plot holders must acquire a plot from MIDC and develop it within the specified time frame. The construction plan must be approved by MIDC before development begins and an occupancy certificate must be obtained from MIDC authorities after construction is complete. The special extension scheme aims to regularize the industrial sector and ensure that all plot holders comply with the guidelines set by MIDC.