Delhi L-G extends leasehold conversion to industrial plots

New Delhi: In a bid to provide relief to small and medium industrial units in the national capital, Delhi LG VK Saxena has extended the Conversion Scheme 2005 to industrial plots, an official statement said on Saturday.

The L-G has granted an ‘in principle’ approval to the proposal for the extension subject to several conditions, the statement said. The move will pave the way for conversion of industrial plots that were allotted by DSIIDC under Relocation Scheme of 1998 from leasehold to freehold, it said. The decision will directly benefit nearly 22,000 industrial units or plots that were relocated by DSIIDC way back in 2000-2001, according to statement. The move addresses a long-pending demand of Delhi-based entrepreneurs, who were not allowed to sell or transfer these plots.

“As reported by DSIIDC under scheme, a total of 21,759 plots have been allotted in various industrial areas till now on leasehold basis which categorically prohibits sale/purchase and transfer of these plots,” L-G noted on file, statement said.