Govt will allow relaxation in land ceiling to investors: CM
17 Jan 2015 11:05 PM GMT
Wooing Non-Resident Keralites, the Kerala government on Friday assured relaxation in land ceiling to those who make investments and generate employment opportunities in the state.
Admitting that the state was facing several ‘road blocks’ with regard to attracting investments, Chief Minister Oommen Chandy said the government has decided to relax the land policy which stipulated that a person cannot hold land in excess of 15 acres.
“We have been facing several road blocks when it comes to attracting investments...and issues regarding land has been one of the major road blocks. As per the current policy, a person cannot hold land in excess of 15 acres and the government has decided to give relaxation to this policy with certain conditions in order to attract investors to the state,” he said inaugurating the two-day Global NRK Meet organised by Department of Non-Resident Kerala Affairs (NORKA) and Norka-Roots here.
According to the revised policy, if a person agrees to make an investment of Rs 5 crore, he would be allowed to hold an acre of land in excess and the same relaxation would also be given to those who come up with a project that promises employment to at least 20 people.
Admitting that the state was facing several ‘road blocks’ with regard to attracting investments, Chief Minister Oommen Chandy said the government has decided to relax the land policy which stipulated that a person cannot hold land in excess of 15 acres.
“We have been facing several road blocks when it comes to attracting investments...and issues regarding land has been one of the major road blocks. As per the current policy, a person cannot hold land in excess of 15 acres and the government has decided to give relaxation to this policy with certain conditions in order to attract investors to the state,” he said inaugurating the two-day Global NRK Meet organised by Department of Non-Resident Kerala Affairs (NORKA) and Norka-Roots here.
According to the revised policy, if a person agrees to make an investment of Rs 5 crore, he would be allowed to hold an acre of land in excess and the same relaxation would also be given to those who come up with a project that promises employment to at least 20 people.
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