Frequently Asked Questions

A. Updated and comprehensive information regarding the Land Bank lying vacant with PSIEC is available here.

A. There are two policies for allotment of industrial plots by PSIEC:

  • 1. On-Going Scheme notified on 29.10.2013.
  • 2. General Scheme notified on 08.04.2008.
Applications are invited for allotment of plots under both schemes through an advertisement is published in the newspaper and uploaded on PSIEC website and website of Department of Industries and Commerce, Govt. of Punjab.

LIST OF DOCUMENTS TO BE ATTACHED WITH THE APPLICATION FOR THE ALLOTMENT OF PLOT

  • 1. A Bank Draft equivalent to 10% of the cost of Plot and 20% of the cost of Plot in favour of ͚The Punjab Small Industries & Export Corporation Ltd.͛ Chandigarh drawn on any Scheduled Bank Payable at Chandigarh, towards earnest money, in case of General Scheme and On-Going Scheme.
  • 2. Detailed Project Report.

A. Industrial plots under General Scheme shall be allotted as per the following reservations:

Allotment to Non Resident Indians & Export Oriented Units 10%
Scheduled Castes 5%
Backward Classes 2%
Ex servicemen/ War Widows 2%
Sikh migrants/ riot affected victims 1%

Provided further that in case sufficient eligible candidates are not available In the specified reserved category, the un-allotted plots shall be treated as unreserved and allotted in the General Category.

A. Under General Scheme

Earnest Money 10% of the cost of plot alongwith application
Down Payment 30% of cost of plot payable within 30 days of allotment
Balance Cost 60% of cost of plot payable in 6 half yearly equated installments alongwith applicable interest. OR In lump sum (without interest) within 60 days of allotment. 10% rebate on balance 60% cost shall be permissible in case of lump sum payment.
Ex servicemen/ War Widows 2%
Sikh migrants/ riot affected victims 1%

B. Under On-Going Scheme

a) For Plots upto 2 Acres  
  Earnest Money 20% of the cost/land alongwith application.
  Payment of balance cost 30% payable within 30 days of issue of Letter of Intent.Balance 50% in five half yearly equated installments alongwith interest as applicable or lump sum payment within 60 days of issue of Letter of Intent without interest.
b) For Plots above 2 Acres  
  Earnest Money 20% of the cost/land alongwith application.
  Payment of balance cost 30% payable within 30 days of issue of Letter of Intent.Balance 50% in five half yearly equated installments alongwith interest as applicable or lump sum payment within 60 days of issue of Letter of Intent without interest.

A. Normal Rate of Interest = 11%
3 Penal Rate = 3%

A. PSIEC allows transfer of industrial plots through the allottee, GPA/ SPA, and within Family/ Blood Relations. The formats of the documents required to be submitted along with the application for transfer can be downloaded here or can be obtained in PSIEC Head Office, Chandigarh.

  • 1. Under General Scheme 3% of the current reserve price of industrial plot fixed by PSIEC operative at the time of seeking transfer.
  • 2. Under On-Going Scheme 5% of the current reserve price of industrial plot fixed by PSIEC operative at the time of seeking transfer.

A. The allottee shall take possession from our SDE concerned on production of receipt for having deposited 30% down payment and a copy of allotment letter within 90 days.

A. The allottee shall arrange to have the lease deed executed and registered, delivered the original to the Corporation within three years from the date of issuance of the Allotment Letter.

A. You will have to apply for issuance of Duplicate Title Documents. The format of the application form and other documents have been provided here.

A. Permission to mortgage an allotted plot to financial institution/ bank and Permission to mortgage is allowed to the allottee of the Corporation for availing credit facilities from concerned financial institution/ bank for setting up/ running unit on the allotted plot only. The checklist and formats of documents to be submitted is provided here. Q. What is the procedure for obtaining Water & Sewerage connection? The format of the application form and other documents for obtaining Water & Sewerage have been provided here.