SRINAGAR: In a significant move, the Jammu and Kashmir government has approved an Industrial Land Allotment policy which will create a structured industrial land bank. Under the policy, land will be leased to investors within 30-45 days for a period of 40 years, which can be extended to up to 99 years.
The Administrative Council (AC), which met in Jammu on Friday under the chairmanship of Lieutenant Governor Manoj Sinha, approved the adoption of J&K Industrial Land Allotment Policy 2021-30 for promoting equitable industrial growth, an official spokesman said. The new policy, he said, attempts to address various landrelated issues impeding industrial development in J&K.
The policy provides for the constitution of divisional level project appraisal and evaluation committees to scrutinise applications received for allotment of land within 30 days. “Apex level, high level and divisional level land allotment committees will decide and allot industrial land to the applicants within 45 days in cases of projects worth Rs 200 crore, Rs 50- 200 crore and up to Rs 50 crore, respectively,” the spokesman said.
However, the allotment can 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 government has already transferred 24,000 kanals (1 kanal = 0.125 acre) to the Industries and Commerce department for setting up industrial estates.
The new policy will also cover land allotment for health care and educational institutions. There is also provision for renting out 60 percent of built-up area of a business enterprise to set up ancillary industrial enterprises through a tripartite agreement. The policy aims at achieving inclusive growth through sustainable industrialisation, employment generation, and includes provisions for evolving a fair and transparent mechanism for land allotment for industrial use.