The Government of Goa vide its notification dated 8th March 2021 has published the Goa Industrial Development Corporation Transfer and Sub-Lease (First Amendment) Regulations, 2021 to further amend the Goa Industrial Development Corporation Transfer and Sub-Lease Regulations, 2018.
Through this amendment any Industrial Undertaking unit which is or was utilized as Industrial Undertaking unit by the original allottee/transferee/sub-lessee cumulatively for a minimum of 15 years, having a plot area not exceeding 2000 sq. mtrs. shall be allowed to change the use from Industrial Undertaking unit to Service Industry unit, either for itself or for use of sub-lessee/ transferee as the case may be.
Further the allottee under regulation 6 shall make the payment within a period of 14 days from the date of issue of Order by the Corporation. If the allottee fails to pay the fees within 14 days, an interest @ 12% per annum shall be charged on the fees payable. If the allottee fails to pay within 120 days, the transfer shall stand cancelled.
