SIPCOT land is a conditional allotment
Summary
It is not freehold: you receive the land on condition that you build within a set period, or it can be taken back. Applications need a ₹10,000/acre deposit and a ₹10,000 fee plus GST; foreign investors add FDI papers.
What to check
- SIPCOT land is not freehold; it is allotted on condition you build within a set time.
- If conditions aren't met, SIPCOT can take the land back.
- Applications need a ₹10,000/acre deposit and a ₹10,000 fee plus GST.
- Foreign investors submit FDI papers too; decisions come within 60 days.
- Buying from an existing allottee may need SIPCOT approval and a differential payment.