New Rule: Aspiring entrepreneurs to return industrial land not used within 2 years

Srinagar, Apr 26: The aspiring entrepreneurs who fail to set up units on the industrial land allotted to them within two years have to return it to the government.
The step has been taken as a lot of aspiring entrepreneurs did not set up their units over the years and left the industrial land unused.
In the last two decades, government has allotted hundreds of Kanals of land to the entrepreneurs at Samba, Bari Brahmana, Rangreth, Lassipora, Kathua, Khonmoh, and Gangyal industrial estate’s.
General Manger State Industrial Development Corporation (SIDCO), Khurshid Ahmed, said that under the new guidelines, the aspiring entrepreneurs have to set up their units within two years.
“In the past many entrepreneurs left the industrial land unused. Now, the entrepreneurs have to set up units within two years after the allotment of the land. If they fail, they will have to return the land to the government,” he said.
An official of the SIDCO said the scores of aspiring entrepreneurs were allotted land by SIDCO at the low prices aimed at generation of employment opportunities and to grow the industrial sector of the state.
However, many entrepreneurs as per the official had failed to come up with the explanation regarding the non-utilisation of the land.
“We are serving cancellation notifications of land to these idling entrepreneurs after the completion of legal procedures,” the official said.
Several entrepreneurs, the official said, have complained that the land allotted to them lacks proper arrangement of water supply, electricity and other necessities required at the site of industrial units.
“They blamed the SIDCO for failing to act as a nodal agency for the promotion and development of medium, large and mega industries,” he said.
Meanwhile, the official said that family members now will be legal heirs of leased out industrial land in case death of an allottee.
“As per the new rules, if any person dies, his children or relatives will be legal heirs of the leased out industrial land,” he said.
He said amendments have been made in operational guidelines of the Industrial Policy to make it more “people friendly”.
Earlier, the contract of the leased out land would get terminated in case of the death of an allottee. The family members had then no rights on the leased out land and the government would take it under its possession.