Latest news with #PromotingLeadershipandEnterpriseforDevelopmentofGrowthEngine
Hindustan Times
4 days ago
- Business
- Hindustan Times
U.P. govt to offer more incentives, flexibility in new EODB measures
The Yogi Adityanath government in Uttar Pradesh is preparing to introduce new ease-of-doing-business (EODB) measures under the PLEDGE (Promoting Leadership and Enterprise for Development of Growth Engine) Park Scheme, which is being revamped to offer developers more flexibility and incentives, officials said. According to the state government, the MSME department has drafted a detailed proposal for amending the existing provisions of the PLEDGE Park Scheme to make it more developer-friendly. Once approved, these changes will provide new advantages, including land use flexibility and reduced development charges. At present, the scheme allows private investors to establish industrial parks on 10 to 50 acres of land, offering benefits like stamp duty exemption, subsidised interest rates on loans, and financial support. The proposed amendments aim to boost participation by introducing significant reforms. These include permitting up to 10 per cent commercial and business activities within the parks, easing land use conversion regulations, and offering concessions in development charges, officials said. To fast-track industrial park approvals, the revised policy may authorise the director and commissioner of industries to approve layouts and building maps. Further, the uniformity in stamp duty rates for PLEDGE Park-related transactions is being prioritised, and the power to approve stamp duty exemptions may also be extended from district magistrates to deputy commissioners of industries, officials said. The government plans to develop a better road network to and from the parks. Developers will also benefit from relaxed norms reducing the required external road width from 12 metres to 7 metres.
Time of India
19-05-2025
- Business
- Time of India
GDA to spend Rs 2.4k crore to acquire 336 hectares for Harnanipuram township
Ghaziabad: The Ghaziabad Development Authority (GDA) board is likely to approve a Rs 2,384 crore budget to acquire 336 hectares of land from five villages—Mathurapur, Shamsher, Champatnagar, Bhanera-Khurd, and Nangla Feroze Mohan Nagar – for its Harnanipuram township . The cost estimates were prepared prior to the board meeting scheduled for Tuesday. "A committee headed by DM to decide on land rates for Harnanipuram was decided, which was four times the DM circle rates as per the Land Acquisition (Rehabilitation & Resettlement) Act, 2013. The board will adopt the rates," said Rajesh Kumar Singh, GDA secretary. According to Singh, the estimated cost includes 7% stamp duty and 1% registration charge, and compensation structure will vary across villages because of the difference in circle rates. Farmers in Mathurapur, where 14 hectares will be acquired, will receive Rs 4,080 per sqm against the current rate of Rs 1,020. In Shamsher, where 86 hectares are needed, farmers will get Rs 6,760 per sqm, up from the existing Rs 1,690. Champatnagar farmers, who will part with 33 hectares, will receive Rs 4,040 per sqm compared to the current Rs 1,010. For Bhanera-Khurd's 9 hectares, the compensation rate was set at Rs 4,240 per sqm, up from Rs 1,060. The largest land acquisition of 192 hectares from Nangla Feroze Mohan Nagar will be compensated at Rs 7,200 per sqm, up from the existing rate of Rs 1,800. Additionally, the GDA board is also expected to pass a land use change proposal under the UP govt's Promoting Leadership and Enterprise for Development of Growth Engine (PLEDGE) scheme for the development of industrial parks . "A proposal to change the land use of 0.431 hectares of land in Galand from agriculture to industrial will also be tabled under the PLEDGE scheme. To promote such industrial parks, govt will provide incentives like giving loans of up to Rs 50 lakh/acre at a 1% interest rate for a period of six years for the development of boundary walls, roads, and other amenities," Singh said. As per the scheme's salient features, a private developer or a consortium of developers should have a land bank between 10 acres to 30 acres. It will also give impetus to Micro, Small and Medium Enterprises (MSME). The developer will reserve 75% of the industrial park land for MSMEs.
