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J&K approves Adoption of ‘Jammu & Kashmir Industrial Land Allotment Policy, 2021-30’

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J&K Industrial Land Allotment Policy, 2021-30On January 22, 2021, The Jammu & Kashmir’s (J&K) Administrative Council (AC) under the chairmanship of Lieutenant Governor Manoj Sinha gave its approval for the adoption of Jammu & Kashmir Industrial Land Allotment Policy, 2021-30. The policy aims to achieve inclusive growth for sustainable industrialisation & employment generation in Jammu & Kashmir.

  • The policy will also cover the land allotment for health institutions, medi-cities, educational institutions & edu-cities.

i.Objective:

  • For Development of a well-structured Land Bank
  • Promotion of Equitable Industrial Growth in the UT of J&K
  • To ensure a Fair & Transparent mechanism for land allotment for industrial use.

ii.The Policy deals with the land-related issues which are holding back the Industrial development in J&K

  • It lays down a framework to regulate zoning of industrial areas, project appraisal and evaluation & succeeding process flow.
  • The zoning of industrial areas at block & municipality level will be done after taking into account factors like existing level of industrial development, location of proposed zone & level of urbanisation.

iii.Division level Project appraisal & evaluation committees will be constituted for checking application received for allotment of industrial land within 30 days.

  • In case of projects whose worth are above INR 200 Crore, INR 50-200 Crore, 3 Levels of Land allotment committees namely Apex, High & Divisional will decide and allot the lands to applicants within 45 days.
  • The initial lease period of the allotted lands will be 40 years; after which it can be extended upto 99 years.

iv.The allotted land will be cancelled

  • Investor fails to take any steps within the time frame of 2 years
  • If the Industrial unit does not come into production within 3 years
  • Violation of provisions under the lease deed
  • Non-cooperation of an Enterprise for a period of 5 years

v.It provides for an option of renting out 60% of the built-up area of a business enterprise to set up an additional industrial enterprise by way of a tripartite agreement.

Recent Related News:

i.September 15, 2020, Government of India announced an increase in Scholarship amount for the students of Jammu & Kashmir (J&K) under the ‘Pragati’ and ‘Saksham’ Scholarship Schemes.

About Jammu & Kashmir (J&K):
Capital – Jammu (Winter), Srinagar (Summer)
Lieutenant Governor – Manoj Sinha