Jalandhar industrial plot holders get breathing space

The plot holders will have to seek clearances for mortgage, transfer and registration of the conveyance deed

Punjab’s Industries and Commerce Minister Anil Joshi on Monday provided major relief to industrial plot holders of Focal Point Extension, Jalandhar by slashing the recovery rate of enhanced land cost from Rs 323 per square yard to Rs 98 per square yard.

In a meeting held here on Monday with industrial associations of the area, led by Chief Parliamentary Secretary K D Bhandari, it was brought to Joshi’s notice that the Punjab Small Industries & Export Corporation (PSIEC+) had issued notices in 2005 to 262 to allottees of industrial about recovery of enhanced land at Rs 323 per square yard.

The associations requested the government to lower the enhanced land cost as this amount was exorbitant.

RELIEF PLAN

• Punjab Small Industries & Export Corporation had issued notices in 2005 to 262 to allottees of industrial in Focal Point Extension, Jalandhar, about recovery of enhanced land at Rs 323 per square yard
• Industrial associations of the area, led by Chief Parliamentary Secretary K D Bhandari, say request the government to lower the enhanced land cost as this amount was exorbitant
• Agreeing to their plea, Industries and Commerce Minister Anil Joshi agrees to slash the cost from to Rs 98 per square yard
• Interim recovery would be made on furnishing of an undertaking by allottees on paying the difference between the actual recoverable enhanced land cost and interim enhanced land cost after the finalisation of pending cases in various courts of law
• The recovery would be subject to the judgment of the Supreme Court

Agreeing to their plea, Joshi decided to slash the cost from to Rs 98 per square yard. The interim recovery would be made on furnishing of an undertaking by the allottees on paying the difference between the actual recoverable enhanced land cost and interim enhanced land cost after the finalisation of pending cases in various courts of law.

The recovery would be subject to the judgment of the Supreme Court.

The concerned plot holders, after discharging the liability of the interim payment, should be able to seek clearances for permission to mortgage, transfer and registration of the conveyance deed.