PERMANENT CHANGE OF PURPOSE
Permanent change of purpose is generally sought for from residential to commercial
purposes in business areas. If the Master
Plan permits such change according to the land use of the area, the same shall be allowed
on the following terms and conditions:-
(i) Payment of additional
premium equal to 50 % of the difference between the commercial value of land at the
time of offering the terms for and the residential value thereof at the time of last sale
(ii) Payment of additional ground
rent @ 2 ½ of full difference of values as mentioned in item (i) above.
(iii) If the lease is un-resticted, the
lessee agreeing to execute a supplemental lease providing for prior permission of the
lessor for sale or transfer of the property.
Additional premium may be recovered in four equal instalments, the first instalment
immediately, the second after the completion of two years, and the third and fourth
instalments before the completion of fourth and fifth years. Additional ground rent shall be charged only
after the completion of the third year or after the completion of construction of the
commercial building whichever is earlier.
[7//2/64-L dated 6.7.1965]
additional premium or ground rent shall be recovered for additional construction
permissible on the date of grant of permission under the bye-laws for commercial purposes
in cases of grant of permanent change of purpose.
[WI-42(476) dated 5.7.1954]