The Cabinet has also decided to give a 75 per cent rebate in the amount of interest and delayed interest in default, an official release said.
The scheme of clearance of enhanced cost default in one go shall be applicable for allottees of industrial plots of HSIIDC who are in default towards payment of enhanced compensation against demands raised from them, it said.
The rebate of 75 per cent in the amount of interest and delayed interest in default shall be allowed if the payment is made within 15 days from the floatation of the scheme and the rebate shall be reduced at the rate one per cent per day for the next 45 days thereafter, the release said.
In another decision, the Cabinet approved that the ground coverage of commercial colony in Transit Oriented Development (TOD) policy may also be made 60 per cent, the release said.
Similarly, in respect of mixed land use colony in TOD, maximum 50 per cent coverage may be allowed, it said.
In another decision, the Cabinet approved to calculate the fee for renewal of license of colonies on the basis of notified licence fee prevalent at the time of grant of part- completion certificate, it said.
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