Srinagar, Oct 15: The Jammu and Kashmir government has amended the Industrial Land Allotment Policy, 2021-30, and, accordingly, constituted two apex level committees for allotment of land for industries.
Principal Secretary to the Government, Industries and Commerce Department, Ranjan Prakash Thakur in this regard issued an order, according to which a high-level land allotment committee shall be headed by the Administrative Secretary, Industries and Commerce Department and will have nine other members. Also, the Chief Secretary shall be the Chairman of the apex level land allotment committee, which will constitute eleven other members.
“The land shall be allotted on lease to the investors for a period of 99 years, initially for 40 years, which may be extendable. The land allotment letter shall define all the terms and conditions of the lease, including compliance of the timelines for coming into production,” the order reads.
According to the new policy, “Projects with land requirement more than 25 acres shall be decided by the apex level land allotment committee, after proper screening and recommendation, by the Divisional Level Appraisal Committee.”
“Both Committees shall decide land allotment applications within 45 days from the date of receiving recommendation from the Divisional Level Industrial Appraisal Committee. Once approved, the Industrial Development Corporation shall immediately issue a land allotment certificate to the applicant,” the order reads.
For the payment of premium, the order states that an allottee must pay 100 percent land premium within 60 days from the date of issuance of the allotment letter and before the execution of the lease deed. Further, all payments shall be made in online mode through the Single Window Portal as per the Jammu and Kashmir Single Window (Industrial Investments and Business Facilitation) Act 2018.
Regarding the execution of Lease Deed and Physical Possession, the order reads that a lease deed in the prescribed format will be executed between the allottee and Industrial Development Corporation concerned within 60 days from the date of issuance of the allotment letter.
—(KNO)
