Widening the ambit of exemption, the West Bengal government passed the Land Reforms (Amendment) Bill, 2014 relaxing the cap on private land holding.
The time period for which a piece of land can be locked before a project is started has also been extended. Many feel the amendment would boost the real estate sector in the State.
After the All India Trinamool Congress (AITC) came to power in 2011, it removed township development from exempted category thus slowing down the pace of several housing projects.
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In Wednesday’s amendment to the West Bengal Land Reforms Bill, housing and giant township building has again been included in the exempted category, Section 14Y of the same Act.
By exempting large housing projects from the ceiling on private ownership a huge potential to create affordable housing adding to the rate of State GDP has been “unlocked,” the big developers said. Many feel, while the amendment would partially address the housing problem in the cities, the number of high rises will rapidly increase negatively affecting the environment. The amendment would also allow the industrialists to keep the land allotted to them idle for five years instead of three.
Exemptions were made on the ceiling of land marked for various other industries.
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Under the exempted category, exemptions (where land can be allotted in excess of 24 acres) were made if any industrialists set up of mills, factories, workshops or tea gardens.
Various other exemptions were also allowed in transportation or terminal, logistic hub, financial and logistic hub, educational and medical institutions, oil and gas products piped transportation, mining and allied activities.