UPSIDA to Cancel Delayed Lease Allotments

12 Nov 2024 CW Team

The Uttar Pradesh State Industrial Development Authority (UPSIDA) has announced a new policy measure in Ghaziabad to streamline land allotments and ensure timely development. Effective immediately, UPSIDA will cancel land allotments if allottees fail to execute lease deeds within specified deadlines, typically within a few months of allotment. This move is designed to curb delays in industrial and commercial development on allotted land, encouraging faster infrastructure growth and reducing idle plots.

UPSIDA's decision comes in response to longstanding issues where many allottees delayed or failed to execute lease deeds, leading to underutilization of land resources. Officials have emphasized that these cancellations aim to make land available for proactive developers and businesses. UPSIDA is working on further strengthening its policies to expedite infrastructure and industry projects, ultimately attracting investment and creating jobs in the region.

To enforce this policy, UPSIDA will be closely monitoring allotments and will issue reminders to allottees nearing deadlines. Those who fail to comply will face automatic cancellation of their allotment rights. UPSIDA aims to foster a more accountable land allocation process, with the long-term goal of optimizing land usage for both economic and community benefits in Ghaziabad and surrounding regions.

The new policy is anticipated to significantly impact current allottees, many of whom may need to expedite their processes to avoid cancellations. Additionally, it sets a clear precedent for potential future allottees about the importance of timely action in land development.

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