Joshi provides major relief to industrial plot holders of Jalandhar focal point

Recovery of enhanced land cost slashed from Rs 323 per sq. yard to Rs 98 per sq. yard

 Chandigarh, October 8, 2012: The Punjab Industries and Commerce Minister today give a major relief to industrial plot holders of Focal Point Jalandhar Extension by slashing the recovery of enhanced land cost from Rs. 323 per square yard to Rs. 98 per square yard.

In a meeting held here today with the industrial associations of Focal Point led by Chief Parliamentary Secretary KD Bhandari, it was brought to the notice of Minister that PSIEC had issued notices in 2005 to 262 allottees of industrial plots of Focal Point Jalandhar Extension for recovery of enhanced land cost @ Rs. 323 per square yard. They informed that these recovery notices were issued based on the enhancement of land compensation by ADJ Jalandhar. The associations pleaded that they had been requested the government to lower the enhanced land cost as this amount was exorbitant.

Agreeing to their plea, the Minister decided to slash the recovery of enhanced land cost from Rs. 323 per square yard to Rs. 98 per square yard. This interim recovery would be made on furnishing an undertaking by the allottees to pay the difference between the actual recoverable enhanced land cost and interim enhanced land cost after finalisation of the pending cases in various courts of law. This recovery would be subject to the judgment of Supreme Court.

The minister said that this issue by making payment of interim the long pending demand of allottees for obtaining different nature of clearances to set up their projects would be satisfied. The concerned plot holders after discharging the liability of interim payment as above, should be able to seek clearances for permission to mortgage, transfer, registration of conveyance deed, change in constitution etc.

He said that Punjab Small Industries and Export Corporation had issued notices during the year 2005 to the allottees of industrial plots of focal point Jalandhar (Extension) for the recovery of enhanced land cost @ Rs. 323/- per sq yard. These recovery notices were issued based on the enhancement in land compensation awarded by the court of ADJ Jalandhar @ Rs.5,000/- per marla and Rs.690 per marla. Terming the amount of recovery being exorbitant, plot holders had been requesting the government to review and re-calculate the recoverable amount of enhanced land cost.

Anil Joshi further said that a new policy for allotment of industrial plots/land in different focal points/industrial estates/colonies would be notified by the Government in due course of time. After finalisation of new allotment policy, plots available in different areas should be advertised and made available to the entrepreneurs for setting up their units. He urged upon the prospective entrepreneurs to bring fresh investment in Punjab and take benefit of the conducive industrial environment prevailing in the state.

Jalandhar Industrial Focal Point (Extension) Associations,  Laghu Udyog Bharti and allottees have welcomed the announcement made by the Industries and Commerce Minister, Punjab for giving major relief to the industrial plot holders of Focal Point Jalandhar (Ext.) and settling their demand which had been lingering for more than 15 years.