Axiom
Call Us - 91 33 4020 4020  
Sign In  I  Sitemap   
AxiomEstates - India Real Estate
     India Properties Worldwide
Axiom Banner
 
Bookmark and Share
E-mail Print Tell A Friend


Residential Properties

 
 
Indian Real Estate News
KoPT to implement new land policy by March
Source: Business Standard Jan 19, 2014
KoPT to implement new land policy by March

Business Standard

The Kolkata Port Trust (KoPT) is planning to implement the government's new land policy by this March, once it has finalised the micro-level policy.

"We hope to begin implementing the new land policy for all our lands from March. Now respective ports have to decide on its micro-level policies based on the given guidelines," KoPT estate manager S K Dhar told PTI.

The new policy has asked a minimum escalation of the annual lease-rent by two per cent and now the respective ports have to finalise their rates, Dhar said, explaining how the micro-policies will be formulated.

Talking about the impact of the policy, Dhar said though it was yet to be estimated, he was sure that it would earn a good revenue for the KoPT.

The new policy will override the existing licensing policy, which was introduced by the KoPT after the Centre had banned signing fresh lease agreement with private entities in 2011.

With the implementation of the policy, the KoPT will have to lease out land through tender cum auction which was earlier done via tender, officials said.

Land inside customs area may be allotted on a short-time license of five years while those outside would be leased for a period of thirty years, they said, adding that land may be granted on nomination basis to PSUs, statutory bodies and government agencies.
 Leave your comments
  
Comments

Citywise News
    All India
    Kolkata
    Mumbai
    Delhi NCR
    Bangalore
    Goa
    Pune
    Chennai
    Other Cities
News Category
    Home Loans
    Announcements
    Tax and Legal
    Policy
    Commercial
    Infrastructure
    FDI
    Developer
    Others
Axiom