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Punjab approves policy for conversion of industrial plots

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Punjab approves policy for conversion of industrial plots
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Chandigarh, (PTI) The Punjab Cabinet today approved a policy to allow conversion of industrial plots for residential and commercial use. The new policy has been approved to check the practice of illegal conversion of industrial plots in industrial focal points/industrial estates to non-industrial purposes, which were blatantly flouting the stipulated norms of parking and public safety for building construction, a release said. The new policy envisages conversion of industrial plots falling in Industrial Focal Points/Industrial Estates set up by the government or any of its agencies to hotels and hospitals, group housing, residential, institutional and commercial uses, it said. An official spokesperson said that this policy would be instrumental to prevent unauthorised conversion in these areas besides ensuring redevelopment of Industrial Focal Points/Industrial Estates according to the present day needs. There would be a condition of 100 meters distance from Red category Industries. Conversion charges in terms of 25 per cent of collector rate for residential use minus collector for Industries use whichever is more would be applicable in case of hotels and hospitals. Likewise, in case of residential flats, collector rate of residential use minus collector rate of Industrial use would be applicable. It may be recalled that over a period of time with the expansion of urban areas, the present location of these Industrial Focal Points/Industrial Urban Estates having densely populated areas around them has become unsuitable from traffic and environment point of view. Further, increased land prices of urban properties have lured a number of plot owners to convert their industrial plots to non-industrial uses illegally thereby blatantly ignoring public safety norms. The Cabinet also approved recommending to the Punjab Governor for summoning of the 13th session of 14th Punjab Vidhan Sabha from September 5 to 9. In a relief to the people across the state, the Cabinet also approved to provide 50 per cent exemption of Stamp Duty on execution of conveyance deeds in respect of affordable houses and similarly 20 per cent exemption on new flats. At present, 5 per cent Stamp Duty is being charged on the conveyance Deeds under the Indian Stamp Act, 1899. The Cabinet also gave nod to float tenders for next phase of Bhagat Puran Singh Sehat Bima Yojana from November 1, 2016 to October 31, 2017, as the said scheme started in November 2015 was completing its term on October 31, 2016. In the extended policy, around 12.50 lakh more beneficiaries were expected to be added and around 40 lakh beneficiaries families would be benefitted under the extended scheme from November 1, 2016 In a bid to promote industrialization in the state, the Cabinet also gave approval to the proposal of supplying electricity to small power industrial consumers at concessional tariff of Rs 4.99 paise per unit during 2016-17. The Cabinet also accorded approval to pay subsidy of Rs 29.97 crore to Punjab State Power Corporation for 2016-17. The Cabinet also approved to provide 200 free units of electricity to the domestic consumers belonging to backward classes on the pattern of SC consumers. The Cabinet also approved to extend the period of implementation of One Time Settlement (OTS) Policy for Loans & Equity- PSIDC, PFC, PAIC and its Subsidiary Companies- 2015 from May 31, 2016 to December 31, 2016 so that these Corporations could recover more amounts from their defaulting loanee companies as these companies have received good response from the industry under OTS Policy. In another consumer friendly decision, the Cabinet had decided to exempt turmeric from VAT and reduce the rate of tax on 'Jeera', 'Dhania', 'Ajwain' and 'Kali Mirch' from 6.87 percent to 4.4 per cent. This decision would entail a forgo of revenue to the tune of nearly Rs 35 to 45 crore annually. The Cabinet also accorded ex-post facto approval for the revised quota of Punjab Medium Liquor, Indian Made Foreign Liquor & Beer and estimated revenue to be accrued during 2016-17. This time the motive of the state government was to break the monopoly and provide liquor at affordable rates to the consumers. With this motive in mind, the allotment of liquor vends was made in small groups. Due to these smaller groups, some of the licensees did not participate actively in the allotment process. Henceforth, in the first and second allotment process, some groups in Bathinda, Patiala, Sangrur, Barnala, Ferozepur, Fazilka and Moga remained un-allotted. Therefore, in the revenue interest of the state, these un-allotted groups of vends were allotted through tender process, by reducing the reserve price after taking the approval of the competent authority.-
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