Construction Industry News
Kerala Industrial Department has established a unified land allocation policy for allocating land to different entrepreneurs, trying to rationalize the criteria offered by various industrial promotion bodies.
The new lease policy will liberalize the terms of business owners, allowing them to change ownership of their business, change their business and provide an exit policy for the business owners.
K Ellangovan, a senior secretary, said the policy is being drafted to make it easier for investors seeking government land. The draft policy is also expected to be approved within a month.
The leasing policy will apply to many agencies in charge of industrial development by acquiring, holding and allocating land for setting up industrial enterprises.
It includes district industrial centers under the Directorate of Industries and Commerce, the Industries Development Corporation, the Kerala State Industrial Development Corporation (KSIDC) and the Kerala Industrial Infrastructure Development Corporation.
Since different authorities follow different regulations for the removal of land, an entrepreneur who wants to set up a company faces a dilemma as to which authority the authority should turn to for the allocation of the land.
Under the new policy, it is allowed to alter manufacturing products in the same category for which the land was intended without government approval.
In the existing policy, if the product is changed, the entrepreneur will have to give the land to the government and wait for a new allotment. The allocated land can be mortgaged in a tripartite agreement between the financing institution, the government and the heir.
There will still be some restrictions, such as the prohibition of excavation or mining in the assigned land to remove the stone, earth or other materials. The new policy includes provisions with which the government can resume the plots.
Kerala is taking several measures to raise the company's position. A higher ranking in the ease of doing business (EoDB) is an important factor in attracting more investors.
The state has implemented a series of reforms overseen by the ministry for promoting industry and domestic trade. By March 1, it had completed the action plan for the district company reform under EoDB.
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