Assessment of land premium at rates lower than the rates applicable as per the guidelines of Chhattisgarh Government has resulted in short recovery of Rs 262.64 crore to Chhattisgarh State Industrial Development Corporation (CSIDC), pointed out the report of the Comptroller and Auditor General of India (CAG) for the year ended March 31, 2015.
Similarly, non-recovery of land premium at commercial rates as per land Allotment Rules and some decision of the Board of Directors of CISDC resulted in loss of Rs 52.49 crore, the report stated.
According to the report, during 2010-15, CSIDC has allotted total land measuring 3367 hectares in 71 cases outside the industrial areas. In respect of seven cases of allotment of land measuring 446.112 hectares, the land premium was assessed at rates lower than the rates applicable as per the state government guidelines.
As a result, there was short recovery of Rs 262.64 crore. Similarly, in six cases of allotment of land measuring 16.715 hectares in industrial areas for auxiliary/commercial purpose, the company did not recover land premium at commercial rates as per land Allotment Rules, 1974 and the decision of board of directors of the company resulted in loss of Rs 52.49 crore, it stated.
As per Chhattisgarh government’s orders of March 2012, the land premium to be recovered from industries at the rates notified by Central Valuation Board (CVB) (which is minimum rate of Rs 14.83 lakh per hectares from uncultivated land and Rs 24.71 lakh per hectares for irrigated land as stipulated in Model Rehabilitation Policy, 2007).