Bhubaneswar,Nov 23: The State Government has enacted a land regulation to control the
disposal of land, building and amenities under IDCO which will make it easy for
companies to set up and operate in the State.
As
per the regulation, IDCO will allot land for establishment of industrial
estates, industrial area and industrial units for a lease period of upto 90
years. There will be a moratorium period of five years for large and mega
projects and three years in case of micro, small and medium industries for
construction and implementation of the projects.
per the regulation, IDCO will allot land for establishment of industrial
estates, industrial area and industrial units for a lease period of upto 90
years. There will be a moratorium period of five years for large and mega
projects and three years in case of micro, small and medium industries for
construction and implementation of the projects.
Another
key element of the regulation covers allotment of land by IDCO for Special
Purpose Vehicle for the purpose of operation of downstream and ancillary
industries. This is expected to significantly drive the growth of this focus
sector which is part of the Vision 2025 for industrial development in the
State. It is worthwhile to note than IDCO has earmarked a land bank of 100,000
acres for industrial development and introduction of this regulation will
significantly facilitate industrial development on this land bank in the State.
key element of the regulation covers allotment of land by IDCO for Special
Purpose Vehicle for the purpose of operation of downstream and ancillary
industries. This is expected to significantly drive the growth of this focus
sector which is part of the Vision 2025 for industrial development in the
State. It is worthwhile to note than IDCO has earmarked a land bank of 100,000
acres for industrial development and introduction of this regulation will
significantly facilitate industrial development on this land bank in the State.
This
move by the State Government will ensure that any land allotted for industrial
purposed does not remain unutilized beyond a stipulated period. Any post
allotment activities such as change of activity, transfer of ownership shall be
taken up by IDCO as per the terms and conditions of the allotment. Any breach
of terms and conditions of lease deed/allotment will invite cancelation and
resumption of land. Earlier this year, IDCO had introduced an online system
called Automated Post Allotment Application (APAA) to deal with all
post-allotment applications in a transparent and time bound manner.
move by the State Government will ensure that any land allotted for industrial
purposed does not remain unutilized beyond a stipulated period. Any post
allotment activities such as change of activity, transfer of ownership shall be
taken up by IDCO as per the terms and conditions of the allotment. Any breach
of terms and conditions of lease deed/allotment will invite cancelation and
resumption of land. Earlier this year, IDCO had introduced an online system
called Automated Post Allotment Application (APAA) to deal with all
post-allotment applications in a transparent and time bound manner.
The
State was recently recognized as a ‘Leader’ by the Government of India and
World Bank in terms of implementation of business reforms this year with 40%
points jump in the ease of doing business score over last year. Introduction of
this land regulation provides clear direction on the procedures of disposal of
land, building and amenities by IDCO and will help in improving transparency
and faster setting up of industrial infrastructure facilities as well as
specific industrial units in the State.
State was recently recognized as a ‘Leader’ by the Government of India and
World Bank in terms of implementation of business reforms this year with 40%
points jump in the ease of doing business score over last year. Introduction of
this land regulation provides clear direction on the procedures of disposal of
land, building and amenities by IDCO and will help in improving transparency
and faster setting up of industrial infrastructure facilities as well as
specific industrial units in the State.