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The Jammu and Kashmir administration approved the adoption of a new policy for allotment of land to industrial entrepreneurs, proposing zoning of industrial areas at block and municipality levels after taking into account existing level of industrial development in the area.
Aim
- It aims at evolving a highly structured industrial land band for promoting equitable industrial growth in the Union Territory
- It aims at achieving inclusive growth through sustainable industrialisation and employment generation, and includes provisions for evolving a fair and transparent mechanism for land allotment for industrial use.
The Land Allotment Policy 2021-30
- It will cover land allotment for health institutions/medi-cities and educational institutions/edu-cities.
- The new policy attempts to address various land-related issues impeding industrial development in Jammu and Kashmir by laying down a framework to regulate zoning of industrial areas, project appraisal and evaluation, and the subsequent process flow.
- The policy provides for constitution of Divisional Level Project Appraisal and Evaluation Committees to scrutinise applications received for allotment of industrial land within 30 days
- Land will be allotted to the investors on lease for an initial period of 40 years, extendable to 99 years.
- The allotted land will be liable to be cancelled in case of failure of the investor to take effective steps within the stipulated time of two years, failure of the industrial unit to come into production within three years, violation of provisions under the lease deed, and non-cooperation of an enterprise for a period of five years.
- The policy also provides renting out of 60 per cent of the built-up area of a business enterprise for setting up an ancillary industrial enterprise through a tripartite agreement.
Source: Indian Express
