Transfer of "lease cum sale deed" of kiadb allotted land

Surendra Babu (Querist) 15 August 2012 This query is : Resolved
Hello,
Please guide me if its possible to transfer the registered "Lease cum Sale" agreement executed by KIADB (Karnataka Industrial Development Board) can be transferred to another firm.

One of the condition in the agreement says "The lessor may at its discretion consider the request of the lessee for the transfer of leasehold rights of schedule property in favor of a new entrepreneur identified by
the lessee during the currency of lease imposing such terms and conditions as decided by the lessor from time to time in this regard." but its not clear to me so please explain.

Thanks

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adv. rajeev ( rajoo ) (Expert) 15 August 2012
It requires permission from the KIDB.

Surendra Babu (Querist) 16 August 2012
Thank You.

Someone told me KIADB would agree for transfer but the new entrepreneur must pay the differential amount compared to the current prevailing rates which might put off anyone trying to get it transferred. Any thoughts please.

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