Jaipur: Rajasthan State Industrial Development and Investment Corporation (RIICO) has amended the rules governing refund of earnest money deposit (EMD) under its Direct Allotment Scheme-2025, providing flexibility and financial protection to investors seeking industrial plots.Under the system, applicants are required to deposit 5% of the total premium of an industrial plot as EMD while submitting their applications online. After approval, a successful applicant is issued a letter of offer and is required to deposit the prescribed amount and submit the necessary documents within 30 days. Failure to comply within the stipulated period previously resulted in forfeiture of the EMD and automatic cancellation of the offer.Under the amended provisions, an applicant seeking to withdraw the application before the last date of submission will be entitled to a full refund of the EMD without any deduction.RIICO has also introduced a refund mechanism for cases where discrepancies are detected in applications. If an applicant is declared successful in the lottery but discrepancies are subsequently found in the information provided, or inconsistencies are detected between the submitted MoU and other required documents, 0.5% of the plot premium will be deducted and the remaining EMD will be refunded. Earlier, there was no provision for refund of EMD in such cases.RIICO MD Suresh Kumar Ola said the corporation has been undertaking periodic reforms to make the Direct Allotment Scheme more convenient, transparent and simple for investors and entrepreneurs. The latest changes are aimed at improving transparency and ease in the land allotment process while better protecting investors’ interests.The scheme is currently valid until Dec 31, 2026. Investors who execute MoUs with the state govt within the prescribed period and meet the eligibility conditions can participate in the scheme.
