Ladakh’s New Industrial-Land Allotment Policy Unveiled

Ladakh's New Industrial-Land Allotment Policy Unveiled

Asif Iqbal | October 27, 2023 | 09:02 AM IST | Ladakh (Union Territory) | Follow on Google News

Ladakh’s New Industrial-Land Allotment Policy Unveiled.image/VOM/ASIF IQBAL

In a significant move, the Administration of Union Territory of Ladakh has unveiled its ‘Industrial Land Allotment Policy,’ aiming to foster industrial development while ensuring transparency in land allocation. The draft of this policy has been made accessible to the public for suggestions and comments until November 10, 2023, signifying a commitment to public participation in decision-making.

Promoting Local Entrepreneurs in the Service Sector

One notable aspect of the policy is its emphasis on promoting local entrepreneurs in the Service Sector. The Service Sector includes a wide range of industries, such as IT & Electronics, Online Services, Film/Video Production, Music Studios, Hospitals, Medical Diagnostic Centers, Eco-Tourism Infrastructure, Hotels, Guest Houses, Resorts, Coaching/Training, and Skill Development services. For this sector, land allotment is reserved exclusively for local entrepreneurs, in line with the Ladakh Sustainable Industrial Policy 2022-27.

Encouraging Investment in the Manufacturing Sector

The policy also opens doors for outside investors in the Manufacturing sector, albeit with a preference for local entrepreneurs. This approach aims to balance the need for external investment with the promotion of local industry.

Inclusive Allocation of Land

To ensure inclusivity, the policy reserves 70% of land in Industrial Estates for Micro and Small Enterprises, leaving 30% for Medium and Large investors. Further divisions include 40% for Priority Sector Industries, 10% for Startups, and 10% for Underprivileged Sections of Society. Priority sectors include Food Processing, Handicrafts, Handloom, Pashmina, Solar Component Manufacturing, and more. Underprivileged sections comprise Single Mothers, Widows, Specially Abled, and Third Gender Persons.

Efficient Land Allotment Process

The land allotment process under the policy relies on a computerized drawing of lots, taking into account the priority reservations. There are three levels of Single Window Clearance Committees based on the investment amount, ensuring a streamlined process. Once approved, applicants receive a land allotment certificate, and the land is leased to investors for an initial period of 40 years, extendable up to 99 years.

The Ladakh Industrial Land Allotment Policy sets premium rates for industrial land based on location. Urban areas have rates of Rs 2.5 lakh (for up to 5 Kanal), Rs 3.5 lakh (up to 8 Kanal), Rs 4.5 lakh (over 8 Kanal), and Rs 6 lakh (over 20 Kanal). In rural areas, the rates are Rs 2 lakh, Rs 3 lakh, Rs 4 lakh, and Rs 5.5 lakh for the corresponding land sizes.

Pakistani Shelling 2 BSF Jawans and Civilian injured, Prompting Civilian Migration

Moreover, the policy encourages prompt payment by requiring allottees to pay 100% of the land premium within 60 days of the issuance of the allotment letter and before executing the lease deed. The enterprises are granted a Provisional Allotment for two years, during which they are expected to commence production or render services.

While the policy outlines a ten-year operational span, it acknowledges the importance of adaptability. Periodic reviews, informed by feedback from stakeholders and evolving industry dynamics, will ensure that the policy remains relevant and effective over time.

Ladakh’s New Industrial-Land Allotment Policy Unveiled: In case of rectification of any error in article , Visit on Correction Policy & Register your Query:

While the policy outlines a ten-year operational span, it acknowledges the importance of adaptability. Periodic reviews, informed by feedback from stakeholders and evolving industry dynamics, will ensure that the policy remains relevant and effective over time.

Asif Iqbal

Asif Iqbal is a seasoned news writer with a passion for delivering the latest updates to the public. Currently serving as the senior writer at VoM News, a prominent news outlet known for its comprehensive coverage of diverse topics, Asif has established himself as a reliable source of information. With a keen eye for detail and a knack for storytelling, he consistently provides readers with well-crafted articles that cover a wide range of news categories. His dedication to journalistic integrity and his commitment to staying ahead of the news curve make him an invaluable asset to Vom News, ensuring that readers are always well-informed on the issues that matter most. You can find his work and stay updated on current events by visiting vomnews.in.