AC extends several benefits under Pvt Industrial Estate Development Policy to stakeholders
JAMMU: The Administrative Council (AC) which met here under the chairmanship of the Lieutenant Governor, Manoj Sinha, gave its approval to the amendments in Jammu and Kashmir Private Industrial Estate Development Policy, 2021-30 to offer a fair opportunity to genuine private developers to play their role in the creation of industry related infrastructure to attract more investment for employment generation.
Rajeev Rai Bhatnagar, Advisor to the Lieutenant Governor; Atal Dulloo, Chief Secretary; Mandeep Kumar Bhandari, Principal Secretary to LG attended the meeting.
The policy envisages incentives in the form of reimbursement of 100% ‘Stamp Duty’ on the purchase of land, reimbursement of 100% of ‘Change of Land Use (CLU) Charges’ and 100% reimbursement of ‘Registration Charges’ on sale deed.
The same is going to provide a level playing field to genuine private developers and upcoming unit holders in such estates in comparison to incentives given to unit holders allotted land in government-run Industrial Estates (IE). Besides, it will improve the business environment in the UT of J&K.
Approximately 2000 kanals (250 acres)of land shall be developed per year through private industrial estates. Timelines for the issuance of documents by the revenue authorities and notification of procedural guidelines for reimbursement of incentives have been incorporated into this policy.
In such Private Industrial Estates where Government Land is involved, the allotment of said land shall be subject to terms and conditions mentioned in the J&K Industrial Land Allotment Policy 2021-30.
Meanwhile, the Administrative Council (AC) which met here under the chairmanship of the Lieutenant Governor, Manoj Sinha approved the transfer of State land measuring 2183 Kanal 14 Marla situated at Village Gandyal, Majra, Bhagthali & Taraf Manjli, Tehsil & District Kathua in favour of Industries & Commerce Department for the establishment of Industrial Estate there.
Rajeev Rai Bhatnagar, Advisor to the Lieutenant Governor; Atal Dulloo, Chief Secretary; Mandeep Kumar Bhandari, Principal Secretary to LG attended the meeting.
The establishment of this Industrial Estate in Kathua District shall play an important role in the development of the area, and create various employment opportunities which shall be in the interest of the public and the government. The industry sector has been declared as the main vehicle for accelerating economic activity besides employing the educated unemployed youths.
The development of industrial infrastructures has been the focus of special attention during the last few years. From the perspective of industrial growth, the Industries & Commerce Department has been established with a system for carrying out its activities effectively to attract investment in the UT of J&K.
More than 31000 Kanals of State/Shamilat land has been transferred to Industries and Commerce Department w.e.f 31.10.2019 till date for setting up of Industrial Estates in UT of J&K.
