Business Standard

BS Reads: Why buying property in Kashmir may not be as easy as it looks

Multiple claims over the same real estate, doubling of official circle rates and issues regarding sale of industrial land are key hurdles 'outsiders' could encounter

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With laws that restricted the size of land holdings repealed, the gates could be thrown open to large-scale farming in the valley.

Sai Manish New Delhi
By repealing 12 laws and amending 14 others, the Modi government has in a single stroke thrown open the purchase of land, property and quite literally everything else under the sun in Jammu & Kashmir to people who are not ‘state subjects’ or ‘permanent residents of the union territory.’ Business Standard had earlier reported how land prices have been more than officially doubled by the administration over the past year to entice locals to sell their holdings. With the new changes, that process might just be set in motion – literally opening the floodgates to individuals and businesses from outside.

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First Published: Nov 18 2020 | 11:53 AM IST

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