SRINAGAR: The Administrative Council, chaired by Lieutenant Governor Manoj Sinha, has approved amendments to the Jammu and Kashmir Industrial Land Allotment Policy 2021-30.
The Industries and Commerce Department incorporated stakeholder feedback to update and refine the existing policy. The amendments clarify various clauses, simplify processes, and enhance efficiency in land allotments. Key changes include periodic revision of lease premiums, broad publicity for application invitations, competitive merit-based land allotments, thorough background analysis of applicants, sector-specific evaluation criteria, defined roles for land allotment committees, and set timelines for restoring cancelled allotments.
To attract significant investments crucial to the UT’s economy, the government may allot land preferentially to mega projects in the industrial and service sectors with a minimum capital investment of Rs. 4000 crores (excluding land and working capital).
These amendments aim to ensure equity and transparency among applicants, fostering large investments and boosting employment generation in Jammu and Kashmir.
