The government of Jammu and Kashmir has approved land assignment for 15 projects in the city.

Jammu and Kashmir

Jammu and Kashmir

During a committee's inaugural meeting that land was awarded under the newly approved J&K Industrial Land Allotment Policy. The property is “initial allocated for 40 years,” according to the policy draught, and the leasing arrangement can be extended up to 99 years thereafter.

 The administration of Jammu and Kashmir (J&K) authorised the distribution of land for 15 projects in the state's Jammu division on Thursday. The property was allocated after the very first meeting of the high property allotment committee, which was led by Ranjan Thakur, principal secretary of the J&K government's industries and commerce department, was convened in Srinagar on Wednesday.

 “The high-level land allotment committee took up 23 cases for allotment of land in various industrial estates of Jammu division with a projected investment of ₹2,447 crore After deliberations on a case-to-case basis, the committee approved 15 cases of land allotment with a projected investment of ₹1,548 crore having employment potential of 5,000 people,” a government statement read. 

“It added that the proposed investment in each project ranges between ₹50 crore and ₹200 crore.”

On the website www.investjk.in, applications for the allocation have been received.

According to the government spokesman, the concept of land issuance "followed a strategy of evaluating mostly on premise of several aspects of the project report and presentations" for the very first time.

“The Committee decided to keep 8 projects pending on the basis of huge requirement of power for operation with less employment potential and also due to restriction on setting up of Red category units in Industrial Area Ghatti, Kathua,” it added.

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