The buyers have to make payment by RTGS/NEFT from their own bank account only.

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SPECIAL TERMS AND CONDITIONS

1. All the offers shall be valid for a period of 45 days from the date of closing of e-auction.

2. The responsibility of collection of post bid EMD and the balance amount of sale value will rest with NOIDA SEZ Authority (NSEZ).

3. The transfer of property will be the responsibility of NOIDA SEZ Authority and MSTC will have no role or say in the same.

4. Any entrepreneur can participate in the bid process. Non-Letter of Approval (LOA) holders can obtain Letter of approval from DC, NSEZ within a period of 90 days after declaration of successful bidder, falling which Earnest Money deposited shall be forfeited. Grant of LOA shall be subject to approval of Project application of successful bidder by the Approval Committee.

5. The successful bidder will deposit the entire bid amount within 30 days from the date of issuance of letter by NSEZ. Extension can be granted for further 30 days at a time but not exceeding 60 days on interest @12% per annum. If the successful bidder fails to deposit the entire bid amount within extended time, the bid will be treated as cancelled and EMD shall be forfeited.

6. Allotment of Land shall be on Sub-Lease basis for 15 years and is renewable subject to validity of LOA. The Sub-lease shall be co-terminus with the validity of LOA.

7. The lease rent is additionally chargeable over and above the price quoted for acquiring the land on lease basis for 15 years. The lease rent is chargeable on quarterly basis and Interest free security money equivalent to one year lease rent shall be deposited by successful bidder as per instruction of Noida SEZ Authority

8. Present rate of lease rent is Rs.206/- per sq. mtr. per annum (including maintenance charges @ Rs.37/- per sq. mtr) revisable every year.

9. Water charges is Rs. 1869/- per quarter or as revised from time to time by NSEZ Authority.

10. Applicant has to deposit an amount of equivalent to 3 months lease rent and maintenance charge, water charge etc. after declaration of successful bidder which shall be adjustable in their regular lease rent. vill. Possession shall be taken over by the bidder within 15 days from the date issuance of offer letter.

11. Possession shall be taken over by the bidder within 15 days from the date issuance of offer letter.

12. Unit will give an undertaking that Customs dues, if any shall be payable by them on the clearance of goods lying at Plot.

13. Sub-lease deed will have to be executed by the allottee within 45 days from the date of possession and also execute BLUT in Form 'H' of SEZ rules after taking over possession of Plot failing which offer shall be treated as withdrawn and amount deposited as per para vil above shall stand forfeited without further reference.

14. In case any clarification is required, this office may be contacted immediately.

Pursuant to issuance of CBIC Notification No. 25/2024-Central Tax dated 09.10.2024, it may be noted that necessary compliance for the payment relating to Tax Deduction at Source under Section 51 of the CGST Act, 2017 on metal scrap, wherever applicable, is to be dealt directly by the Buyer with Seller. TDS at the rate of 2% under GST is applicable only when seller and buyer are both registered under GST as regular taxpayer. Since GST TDS is a compliance matter pertaining to the buyer & seller only, MSTC Limited as a Service Provider will not intervene in the matter. Accordingly, the payment is to be done strictly as per the Payment Schedule mentioned in the auction catalogue.