CM Yogi gives green signal to landowner’s voluntary participation

Lucknow. The Yogi government of Uttar Pradesh has taken a big decision to easily raise land for industries. Now, under the Land Pooling Policy, Industrial Development Authorities will be able to raise land. Under the policy, landowners will be able to participate voluntarily in industrial development. He will get back 25% of the developed land taken from the land owner, which he can also transfer to another.

The Cabinet Pool Bicirculation Industrial Development Department’s land pooling policy was approved late Tuesday evening. Under the policy, landowners will automatically be attracted to come forward to give their land. According to the policy, a minimum of 25 acres of land will be taken by the Industrial Development Authorities as per its master or zonal plan around 18 meter road and 80 percent of the landowners will be ready to give land voluntarily. The remaining 20 percent of the land will be acquired in the right to fair compensation and transparency in land acquisition, rehabilitation and resettlement through the Act-2013 and other law-related methods.

As long as the land owner does not get the developed land in five years, then compensation for crop and rehabilitation will be given at the rate of five thousand rupees per acre per month. Authorities will have to get the development works done in three years with the approval of the layout plan The policy also provides for buy-back so that the landowners will be able to return the allotted developed land to the concerned authority after five years at the rate of 90% of the rate applicable for the land use at that time.

Landowners will get 80 percent of industrial land: Under the policy, 25 percent of the total land given to landowners who have given land will be allotted through lottery. Out of this, 80 percent (minimum 450 sqm) will be developed land with industrial use. 12 percent (minimum 72 sqm) will be residential and the remaining eight percent (minimum 48 sqm) will be developed land with commercial land use. The land falling in the project will be appraised at the rate of PWD and the amount will be given to the land owner. Land owners will not have to pay any stamp duty on the allotment or lease of developed land in their favor. Landowners will be free to sue or deed such land but will be subject to stamp duty.