Jammu & Kashmir Industrial Land Allotment Policy, 2021-30 approved

The Administrative Council (AC), which met here under the chairmanship of Lieutenant Governor, Manoj Sinha, approved the adoption of Jammu & Kashmir Industrial Land Allotment Policy, 2021-30 to evolve a highly structured industrial land bank for promoting equitable industrial growth in Jammu and Kashmir.

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.

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.

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.

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
• 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.