‘Will facilitate more investment, create employment opportunities’
Sanjeev K Sharma
JAMMU, Aug 7: As J&K Union Territory required an elaborate Industrial Land Allotment Policy to provide an effective framework and codified industrial land allotment system backed by a comprehensive industrial land bank for attracting large industrial investments in the region, the Government today accorded landmark sanction to the adoption of amended version of Jammu and Kashmir Industrial Land Allotment Policy, 2021-30 to provide a framework which will attract and realize national and international investments.
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The new Policy has been given the green signal to provide an efficient and transparent mechanism for industrial land allotment in a time bound manner and to encourage, promote and facilitate more investment in enterprises and to build a strong, responsive and vibrant business environment in the region besides creating employment opportunities for the unemployed youth.
The Policy shall remain in operation for ten years from the date of its adoption.
“However, the Policy shall be reviewed from time to time based on a critical assessment of feedback from stakeholders,” the official document stated adding that the land shall be allotted on lease to the investors for a period of 99 years (initially for 40 years which may be extendable) and the Land Allotment Letter shall define all the terms and conditions of the lease including compliance of the timelines for coming into production.
All the applications received for allocation of industrial land shall be scrutinized (on technical and financial criteria) by the Divisional Level Appraisal Committee (DLAC) in a time bound manner. The DLAC shall ensure that all eligible applications have been appraised before each allotment process.
The Policy also allows land allotment for public utility services such as Fire & Emergency Services, Police Stations, Government/ESI Dispensaries, Power Development Department, Public Health Engineering Department, Scheduled Banks etc at the premium and rent rates fixed by the respective Industrial Development Corporation.
As per the Policy document, land may also be allotted for public utility services which are compatible with industrial usage of a given Industrial Estate and the Industrial Development Corporation concerned may waive off or reduce the premium or rent rates for such public utility agencies, if needed.
“The land identified in an Industrial Estate for other commercial utilities such as petrol pumps, restaurants, warehouses etc required in the Industrial Estates shall be allotted through competitive bidding by the concerned Industrial Development Corporation,” the Policy document continued.
For the cancellation of lease deed the Policy clearly stated the conditions like the one including failure on the part of allottee to make total payment towards premium within stipulated time from the date of issuance of the allotment letter and for violation of any condition in the lease deed.
Other cases for cancellation of lease deed are-failure to come into production within stipulated time, failure to comply with the implementation schedule and other commitments made in the application, failure to adhere to any other condition(s) stipulated in the J&K Industrial Policy and/or guidelines and non-operation of an enterprise for a continuous period of 5 years.
It (Policy) stated that in such cases the concerned Industrial Development Corporation shall immediately take necessary action for cancellation of the lease deed and eviction of the allottee but the cancelled allotment can be restored on justifiable reason on approval of concerned Land Allotment Committee.
The Policy has been formulated with consciousness and belief that it will assist the government to carve a place for itself in the national economy and a niche for its products in the national and international market.
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