The Jammu and Kashmir government on Thursday issued final notices for cancellation of land allotments to 586 entities that had failed to set up units under the much-touted “new industrial development scheme”.
Notices have been issued as these units had failed to deposit the land premium and execute lease deeds, according to a top official. The Jammu and Kashmir administration in January 2021 announced the scheme with a total outlay of Rs 28,400 crore to encourage fresh investments and take industrial development to the block level.
The final notice was issued by Jammu and Kashmir State Industrial Development Corporation managing director Smita Sethi on Thursday. These allotted units include462 in Kashmir and 124 inJammu. The units were granted 500 to 600 acres in dozens of industrial estates.
“As per records, 586 allottees have not given any response and are liable for cancellation in terms of Jammu& Kashmir Industrial Land Allotment Policy 2021-30 despite repeated notices,” Sethi said.
