Chandigarh, June 2 (IANS) The Punjab Cabinet, led by Chief Minister Bhagwant Mann, on Monday approved the introduction of a new and progressive land pooling policy to promote planned and sustainable development.

A spokesperson for the Chief Minister’s Office said the policy aims to involve landowners, promoters, and companies as stakeholders in the development process and to increase interest in land pooling among landowners. The revised scheme has been rationalised to benefit small and marginal farmers significantly, offering more options to landowners, which will boost group housing and planned development, ultimately benefiting the common man.

The policy is designed to ensure holistic development by integrating every stakeholder into the process. It will be a game changer for the state as it will provide major benefits for farmers. There will be no more exploitation of farmers, and they will directly benefit. No private developers or land mafia can exploit farmers, as the policy ensures that farmers are protected from exploitation by private players.

The Cabinet also approved the partial surrender and partial cancellation of licences issued to colonies under the Punjab Apartment and Property Regulation Act (PAPRA), 1995, as well as the partial cancellation of approvals granted to industrial park projects. A policy in this regard was notified on March 10, concerning the surrender of licences for developing colonies under the PAPRA Act and approvals for industrial parks. This decision allows for partial surrender of licensed areas, subject to certain conditions, and partial suspension or cancellation of licenses for such projects.

To encourage allottees and bidders of residential, commercial, and other property plots to make lump sum payments of 75 per cent of the total amount, the Cabinet also approved a series of incentives. A 15 per cent discount on the cost of the plot or site will be offered to allottees who make a lump sum payment. This measure, said the spokesperson, is expected to ensure consolidated revenue for the government while also reducing the number of defaulters.

To further facilitate the state’s holistic development and boost revenue generation, the Cabinet approved an increase in external development charges, changes in land use charges, licence fees, and other charges applicable to real estate promoters.

–IANS

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