(See Section 9a)
Rates of Dead Rent
1. Rates of dead rent applicable to the leases granted for low value minerals are as under:
Rates of Dead Rent In Rupees Per Hectare Per Annum
|From 2nd Year of Lease||3rd and 4th Year of Lease||5th Year onwards|
2. Two times the rate specified at paragraph 1 above in case of lease granted for medium value minerals.
3. Three times the rate specified at paragraph 1 above in case of lease granted for high value minerals.
4. Four times the rate specified at paragraph 1 above in case of lease granted for precious metals and stones.
1. For the purpose of this notification:
(a) "precious metals and stones" means gold, silver, diamond, ruby, sapphire and emerald;
(b) "high value minerals" means semi-precious stones (agate, gem garnet), corundum, copper, lead, zinc, and asbestos (chrysotile variety);
(c) "medium value minerals" means chromite, manganese ore, kyanite, sillimanite, vermiculite, magnesite, wollastonite, perlite, diaspore, apatite, rock phosphate, fluorite (fluorspar), barytes, and iron ore;
(d) "low value minerals" means the minerals other than precious metals and stones, high value minerals and medium value minerals.]
1. Subs. by notification No. G.S.R.631(E), for "Third Schedule" (w.e.f. 1-9-2014).