Industry lauds state govt’s decision to revisit Urban Land Ceiling Regulation Act and Land Reforms Act

Kolkata: Reacting to the state Budget, industrialists and various chambers of commerce, besides appreciating infrastructure development announcements, have unitedly lauded the state government’s decision to revisit the ceiling laws of the land both under Urban Land Ceiling Regulation Act as well as the Land Reform Act.

Welcoming the move, Sushil Mohta, president, CREDAI West Bengal and chairman, Merlin Group explained: “As per urban land ceiling law one cannot hold more than 500sqm of land. Now, if residential building is developed on a 500 sqm of land as per present building byrules in Bengal, about 12000 sqft will be constructed where 12 residential units of 1000 sqft can be developed giving accommodation to 12 families. Therefore, per family land holding will be around 42 sqm which is 1/12th of the ceiling limit. Similarly, if a commercial development of 12000 sqft is done it will provide jobs to at least 100 persons. Presently, because of ceiling laws large investors are shying away from West Bengal”.

Mohta said the proposed flyover from Metropolitan Crossing on EM Bypass to Mahisbathan will also stimulate the development of residential and commercial real estate segments in New Town. Rajeev Singh, DG, Indian Chamber of Commerce, said: “The government’s plan to set up four new Super Critical Thermal Power units in Santaldih, Bakreshwar and Durgapur at an aggregate capacity of 2,920 MW which would add to the infrastructure base. Key road development projects like the ‘Ganga Sagar Setu’, ‘Shilpa Setu’, and the Pathasree-3 scheme when supported by industry investments, would further improve the state economy.” N G Khaitan, president, Bharat Chamber of Commerce, Kolkata said: “Under the very challenging circumstances, introduction of the Settlement of Dispute Schemes for waiver of penalty and interest on Luxury Tax for hotel and restaurants again are indeed praiseworthy.

This would certainly provide an opportunity for the assessees to clean their books and augment tourism activities. In this regard, project ‘Ganga Sagar Setu’ will be an excellent support to the tourism sector”.

Namit Bajoria, president, Merchant Chamber of Commerce & Industry, lauded the proposed four per cent interest subvention scheme for small and medium enterprises. He also appreciated the government’s move to improve transport infrastructure by building two river bridges and a long flyover and six logistic corridors across the state with Asian Development Bank support.