Rail Land Development Authority (Development of Land and Other Works) Amendment Regulations, 2024.

5872 GI/202 4 (1) रजिस्ट्री सं. डी.एल.- 33004/99 REGD. No . D. L. -33004/99 EXTRAORDINARY PART II —Section 3 —Sub-section ( i) PUBLISHED BY AUTHORITY No. 526] NEW DELHI, THURS DAY , SEPTEMBER 12 , 2024 / BHADRA 21, 1946 CG-DL-E-13092024-257133 MINISTRY OF RAILWAYS (Rail Land Development Authority) NOTIFICATION New Delhi, the 12th September , 2024. G.S.R. 568(E).–In exercise of the powers conferred by sub -section (1) of section 4 -I read with section 4F of the Railways Act, 1989 (24 of 1989), the Rail Land Development Authority, with the previous approval of the Central Government, hereby amend the Rail Land Development Authority (Development of Land and Other Works) Regulations, 2012, namely: - 1. (1) These regulations may be called the Rail Land Development Authority (Development of Land and Other Works) Amendment Regulations, 2024. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Rail Land Development Authority (Development of Land and Other Works) Regulations, 2012 (hereinafter referred to as said Regulations), - (i) in Regulation 8, - (a) in sub -regulation (1), after the words "structure built on it", the words "or both" shall be inserted; (b) after sub -regulation (1), the following sub -regulation shall be inserted, namely: - "(1A) Subject to the clause of mortgage, as stipulated in the original lease deed executed between the Authority (original Lessor) and original Lessee, the Lessee may mortgage the lease hold rights in the Railway Land in favor of any government organisation or any government recognised financial institution for the purpose of financing with the prior permission of the Authority: Provided that the Authority shall have the first charge on the lease hold rights of the property." 3. In the said Regulations, in regulation 17, for sub -regulation (1), the following sub -regulation shall be substituted, namely: - "(1) In case the development of land is carried out with the cost being met by the Authority, including the retained earnings of the Authority, the built -up area along with proportionate undivided lease hold rights in the Railway Land shall be leased either to a single party or to multiple parties, as may be determined by the Authority." 4. In the said Regulations, in regulation 26, - (a) in sub -regulation (1), - (i) for the opening portion, the following opening portion shall be substituted, namely: - "(1) Subject to the clause relating to sub -lease as stipulated in the original Lease deed executed between the Authority (original Lessor) and original Lessee, a lessee may have the right to sub -lease either in part or in full the lease hold rights of Railway Land or built -up area or both along with the proportionate undivided lease hold rights in the Railway Land, to one or more parties in such form and manner as may be determined by the Authority and subject to, (ii) in clause (a), for the words "nominated officer of the Authority", the words "Competent Authority" shall be substituted; (iii) after clause (e), the following clauses shall be inserted, namely: "(f) subject to the clause of sub -lease or further sub -lease or any other term, by whatever name called, as stipulated in the original Lease deed executed between the Authority (original Lessor) and original Lessee, the Lessee or sub - lessee may lease the lease hold rights to any person who is qualified to enter into a lease agreement as per the provisions of the Transfer of Property Act, 1882 (4 of 1882); (g) subject to the clause of mortgage, as stipulated in the original Lease deed executed between the Authority (original Lessor) and original Lessee, the Lessee or sub -lessee may mortgage the lease hold rights to any person who is qualified to enter into a mortgage (other than the mortgage by conditional sale) as per the provisions of the Transfer of Property Act, 1882 (4 of 1882)."; (b) in sub -regulation (2), for clause (b), the following clause shall be substituted, namely: - "(b) the built -up area along with the proportionate undivided leasehold rights on the Railway Land in full to a single third party." (c) for sub -regulation (3), the following sub -regulation shall be substituted, namely: - "(3) The third parties as referred to in sub -regulation (2) may further sub -lease the built -up area along with the proportionate undivided leasehold rights on the Railway Land as provided under sub - regulation (1) subject to the terms and conditions specified in the agreement between the lessee and third party and with prior permission of the Authority: Provided that the same shall be stipulated in the original Lease deed executed between the Authority (original Lessor) and original Lessee." 5. In the said Regulations, for regulation 27, the following regulation shall be substituted, namely: - "27. Transfer of lease and sub -lease :- (1) Subject to the provisions of these regulations, the lessee shall not transfer or assign the lease, except by way of sub lease. (2) A lessee or sub - lessee may be permitted to further sub -lease to another person or entity - (a) with prior permission of the Authority and subject to such transfer as stipulated in the original Lease deed executed between the Authority (original Lessor) and original Lessee; and (b) after making a one -time transfer charge to the Authority in such manner as may be determined by the Authority. Note: The principal Regulations were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub - section (i) vide number G.S.R. 57(E), dated 30th January, 2013. [F. No. 2022/LML -II/2/8] RANJAN KUMAR SRIVASTAVA, Secy. to Authority Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054.