LUCKNOW: With the intent to provide affordable housing to different sections of society, control haphazard and unplanned development in the peripheral areas of cities, improve the quality of urban life, and attract investments, Yogi government will provide various incentives to private developers investing in the state under the New Township Policy 2023.
Under the New Township Policy 2023, the developers will receive reduction in the conversion fee for using the land. For townships developed in areas with a population of more than 5 lakhs and less than 10 lakhs, there will be a 25 percent rebate in the conversion fee, while for areas with a population of less than 5 lakhs, the reduction could go up to 50 percent. Furthermore, private developers will be eligible for township development.
According to a statement issued by the state government, as per the provisions of the policy, if a township's land area is less than 50 acres, it will only be permitted for residential use.
However, if the township's land area is 50 acres or more, it will be allowed for agricultural use as well, subject to the necessary procedures for converting it into residential land. If land designated for purposes other than residential is included in the plan, except for the land for major development projects, the conversion fee will not be applicable, and such land will be considered for swapping in the plan.
The UP government will also allow facility of Foreign Direct Investment (FDI) in consonance with Foreign Direct Investment (FDI) Policy of Indian Government’s Ministry of Commerce and Department for Promotion of Industry and Internal Trade (DPIIT), said a senior state government official.
Additionally, a green channel will be set up for various approvals related to the project, through which all approvals and objections will be issued via a ‘Single Window System’. Developers will have the option to obtain multiple licenses in the same development area and become members of multiple consortiums.
The statement also said that the developer or consortium will have full authority over development and construction-related activities within the licensed area. Any proposed map submitted by other landowners or applicants within the proposed licensed area, apart from the licensed developer or consortium, will not be approved by the authority or the Housing and Development Board.
Unauthorized development and construction within the area will also be regulated by government authorities. Additionally, for land assembly for the township, the developer or consortium can enter into land pooling agreements and developer agreements with landowners and farmers.