Non-locals make a beeline to buy land after abrogation of Art 370

More than 2K kanals of land allotted to investors in last two years, J&K government tells Assembly
Kashmir
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SRINAGAR: The J&K government disclosed on Wednesday that after Article 370 was abrogated, over 2,000 kanals of land were allotted to non-local investors in the Union Territory in the last two years, including 206 kanals to former Sri Lankan cricketer, Muthiah Murlitharan.

In response to a question by PDP MLA Waheed-ul-Rehman Para, who sought details of non-locals provided land for investment in Jammu and Kashmir during the last two years, the finance minister informed the Assembly in a written reply that 2,093 kanals were allotted to the non-locals at SIDCO Industrial Estates in Srinagar and Jammu from January 1, 2023, to December 12, 2024.

Before Article 370’s abrogation, investors were hesitant to invest in the region. Since then, the government has eased norms to attract investments.

According to the government, 275 kanals at Bhagthai-I industrial estate in Kathua were allotted to M/s RSWM Limited, 222 kanals to M/s Grew Energy Pvt Ltd (Unit-I), and 424 kanals to M/s Grew Energy Pvt Ltd (Unit-II).

“At Bhagthali-II Industrial estate of Kathua, 201 kanals were allotted to M/s Advance Films Pvt Ltd, 201 kanals to M/s GreenquestAlu Foils Pvt Ltd, 201 kanals to M/s Haldiram Snacks Manufacturing Plant, 209 kanals to M/s Sintex Advances Plastic Ltd and 206 kanals to M/s Ceylon Beverages Can Pvt of former Sri Lankan cricketer Muthiah Muralitharan,” the minister said.

According to the government, 30 kanals of land were allotted to M/s Megna Waves Buildtech Pvt Ltd (EMAAr Group-UAE) in Medicity Sempora Srinagar and 100 kanals to M/s Megna Waves Buildtech Pvt Ltd (EMAAr Group UAE).

The government disclosed that 24 kanals of land at Exhibition Ground Jammu industrial estate was allotted to M/s Magna Waves Buildtech Pvt Ltd. The UAE-based Emaar group is building a shopping mall and a multipurpose tower on the outskirts of Srinagar. Emaar is the first FDI project in Jammu and Kashmir after Article 370 was repealed by the Centre in 2019. Emaar has decided to invest Rs 500 crores in J&K. The foundation stone of the first international mall in J&K was laid in March 2023.

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