In a significant move aimed at boosting industrial growth and employment in the Union Territory, the Administrative Council, under the chairmanship of Lieutenant Governor Manoj Sinha, has approved amendments to the Jammu and Kashmir Industrial Land Allotment Policy 2021-30.
The Industries and Commerce Department, incorporating feedback from various stakeholders, has updated the existing policy to simplify processes and enhance efficiency in land allotments.
The amendments include periodic revision of lease premiums, broad publicity for application invitations, and allotment of land on a competitive merit basis. They also introduce sector-specific evaluation criteria, detailed functions and jurisdictions of land allotment committees, and set timelines for the restoration of canceled allotments.
A key highlight of the revised policy is the provision for preferential land allotment to mega projects in the industrial and service sectors. These projects must have a minimum capital investment of at least Rs. 4000 crores, excluding land and working capital, to qualify for this benefit.In a significant move aimed at boosting industrial growth and employment in the Union Territory, the Administrative Council, under the chairmanship of Lieutenant Governor Manoj Sinha, has approved amendments to the Jammu and Kashmir Industrial Land Allotment Policy 2021-30.
The Industries and Commerce Department, incorporating feedback from various stakeholders, has updated the existing policy to simplify processes and enhance efficiency in land allotments.
The amendments include periodic revision of lease premiums, broad publicity for application invitations, and allotment of land on a competitive merit basis. They also introduce sector-specific evaluation criteria, detailed functions and jurisdictions of land allotment committees, and set timelines for the restoration of canceled allotments.
A key highlight of the revised policy is the provision for preferential land allotment to mega projects in the industrial and service sectors. These projects must have a minimum capital investment of at least Rs. 4000 crores, excluding land and working capital, to qualify for this benefit.