Govt. approves overhaul of industrial estate rules to revive abandoned ventures

The Cabinet meeting has approved the new rules for allotting land titles in industrial estates and simplifying land transfers. The government is now responding positively to a decades-old demand. Most of the industrial estates, which were once thought to be important hubs for the industrial growth of the state, later fell into disrepair. Many of the industrial units were abandoned by the owners themselves.

Many of the industrial estates became like ghost lands after the owners abandoned them with no market for their products and went into debt. If those who came forward willing to pay the money could have been handed over, there would have been some prosperity. Due to strict conditions of transfer, vacant industrial estates could not be acquired. There were also legal restrictions on granting title to land in industrial estates. Although there is a law, the lack of regulations to implement it has stood in the way of transfer of industrial estate land and grant of title. Although the owners have been demanding it for a long time now the government is realizing the problem and making the necessary rules.

The revenue department is responsible for granting title to the land on which the industrial estates are located. General managers of industrial estates should also submit applications for this. Naturally, we have to go through a lot of hoops and government red tape to make this happen. Allotment of land to an entrepreneur in an industrial estate is for starting a particular industry. The place could not be transferred to another entrepreneur even if the venture stopped due to various reasons. It was also decided that even if it was handed over, the industrial enterprise that was going on there should be continued.

Conditions like these are the main reason why industrial estates are like ghost lands. Under the new rules, such challenges have been exempted. After three years, the owner can transfer the land at will. Likewise, the industry that existed there did not have to continue. There is no hindrance for the new owner to start the venture of his choice. The old owner himself will not be prevented from stopping the existing one and starting a new venture after three years in his own unit.

The lack of adequate regulations made it very difficult as it was up to the Collectors to grant the titles. As the new rules come with the approval of the revenue department, it will be easier to grant the title. When allotting land in the industrial estate, it was necessary to specify the industry to be started. According to the new rules, it is no longer necessary. You can start anything you like by writing it as a new venture.

It is a fact that the state has not been able to achieve the industrial growth it intended with industrial estates. Most of the enterprises are closed long before they started. Most of the people who started the ventures without understanding the demand of the market had to withdraw due to losses. Small enterprises play a very important role in industrial growth. It is hoped that the new policy change introduced in relation to industrial estate will be a fresh start.