Express News Service
LUCKNOW: With the intent to provide affordable housing, control haphazard and unplanned development in peripheral areas of cities, improve the quality of urban life, and attract investments, the Uttar Pradesh government will provide various incentives to private developers under the New Township Policy 2023.
Under the policy, developers investing in the state will receive reduction in the conversion fee for land use. For townships developed in areas with a population of more than 5 lakh and less than 10 lakh, there will be a 25 per cent rebate in the conversion fee, while for areas with a population of less than 5 lakh, the reduction could go up to 50 per cent. Furthermore, private developers will be eligible for township development.
According to a statement issued by the state government on Wednesday, as per the provisions of the policy if a township’s land area is less than 50 acres, it will only be permitted for residential use. However, if the township’s land area is 50 acres or more, it will be allowed for agricultural use as well, subject to the necessary procedures for converting it into residential land.
However, if land designated for purposes other than residential is included in the plan, except for the land for major development projects, the conversion fee will not be applicable, and such land will be considered for swapping in the plan.
The UP government will also allow facility of Foreign Direct Investment (FDI) in consonance with the FDI Policy of Indian government’s Ministry of Commerce and Department for Promotion of Industry and Internal Trade, said a senior state government official.
Additionally, a green channel will be set up for various approvals related to the project, through which all approvals and objections will be issued via a ‘Single Window System’. The expansion of the township area will be permissible, subject to approval at the Vice President or Housing Commissioner level.
A simplified procedure for license issuance and layout plan approval has been prescribed and the Vice President, Housing Commissioner will be authorised to take action. Developers will have the option to obtain multiple licenses in the same development area and become members of multiple consortiums. The developer or consortium can enter into land pooling agreements and developer agreements with landowners and farmers.
Less conversion feeUnder the policy, developers investing in Uttar Pradesh will receive reduction in the conversion fee for land use. For townships in areas with a population of over 5 lakh and less than 10 lakh, there will be a 25 per cent rebate in the conversion fee. With less than 5 lakh populace, the rebate will be at 50 per cent.
LUCKNOW: With the intent to provide affordable housing, control haphazard and unplanned development in peripheral areas of cities, improve the quality of urban life, and attract investments, the Uttar Pradesh government will provide various incentives to private developers under the New Township Policy 2023.
Under the policy, developers investing in the state will receive reduction in the conversion fee for land use. For townships developed in areas with a population of more than 5 lakh and less than 10 lakh, there will be a 25 per cent rebate in the conversion fee, while for areas with a population of less than 5 lakh, the reduction could go up to 50 per cent. Furthermore, private developers will be eligible for township development.
According to a statement issued by the state government on Wednesday, as per the provisions of the policy if a township’s land area is less than 50 acres, it will only be permitted for residential use. However, if the township’s land area is 50 acres or more, it will be allowed for agricultural use as well, subject to the necessary procedures for converting it into residential land.googletag.cmd.push(function() {googletag.display(‘div-gpt-ad-8052921-2’); });
However, if land designated for purposes other than residential is included in the plan, except for the land for major development projects, the conversion fee will not be applicable, and such land will be considered for swapping in the plan.
The UP government will also allow facility of Foreign Direct Investment (FDI) in consonance with the FDI Policy of Indian government’s Ministry of Commerce and Department for Promotion of Industry and Internal Trade, said a senior state government official.
Additionally, a green channel will be set up for various approvals related to the project, through which all approvals and objections will be issued via a ‘Single Window System’. The expansion of the township area will be permissible, subject to approval at the Vice President or Housing Commissioner level.
A simplified procedure for license issuance and layout plan approval has been prescribed and the Vice President, Housing Commissioner will be authorised to take action. Developers will have the option to obtain multiple licenses in the same development area and become members of multiple consortiums. The developer or consortium can enter into land pooling agreements and developer agreements with landowners and farmers.
Less conversion fee
Under the policy, developers investing in Uttar Pradesh will receive reduction in the conversion fee for land use. For townships in areas with a population of over 5 lakh and less than 10 lakh, there will be a 25 per cent rebate in the conversion fee. With less than 5 lakh populace, the rebate will be at 50 per cent.
