Land allotment: Cabinet meets to approve policy

The land will be available for a cost ranging from Rs 2.95 crore an acre to Rs 5 crore an acre depending on the size of the site allotted. (see box). The payment towards cost of land can be done over several years. Adding a new clause to ensure that sites do not remain underutilized,the policy also lays down that the sites will be available initially as leasehold and will be converted to freehold only after promoter fulfills certain minimum development conditions.

The IT City is located in Sector 82 (A) and 83(A) and 101(A) in Mohali. The three sectors are located at a distance of 1.5 Km from the Mohali International Airport. Out of the total 1685 acres,a net area of 400 acres will be used for allotment. The balance area will be used for residential,parks,green belts,institutional,commercial and for road network. A total of 66 sites varying between half an acre to 50 acres will be allotted.

While laying down the cost and mode of allotment of these plots,the policy also lays down the eligibility for the allotment of various category of sites. For the setting up of anchor industry in plots of 25 acres and above,the company should have a turnover in the knowledge service sector of a minimum of Rs 2500 crore. The company should have funds available for making investment of at least Rs 500 crore over the next 3 years. For main campus sites the company should have a turn over of rs 500 crore and an investment ability of Rs 100 crore. For small campus sites the turn over limit is rs 100 crore and investment ability is Rs 20 crore. For small sites the annual turnover has been fixed at Rs 3 crore and should have 25 employees enrolled at the time of application.

Initially all plots will be allotted on lease basis following which the industrialist will have to complete the construction within a stipulated time. Only after the expiry of the lease period and receipt of full cost of of the plot as well as fulfillment of norms can the plot be converted to freehold.

The allotment of plots will be done by a scrutiny committee headed by the Punjab chief secretary. The committee will assure itself of the viability of the project,impact on environment,technology involved,export earnings,employment to be generated etc before allotting land.

Other issues coming up before the cabinet tomorrow:

Setting up of a regulatory authority to check the exorbitant fees charged by unaided private educational institutions in Punjab.

Change of name of ‘Mohali’ to SAS Nagar for the purpose of revenue records.

Amendment to Juvenile Justice and Protection of Children Act.