In a bid to provide major relief to industrialists in Delhi, the 'Delhi State Industrial and Infrastructure Development Corporation' (DSIIDC) board has decided to convert Industrial plots allotted under relocation scheme from leasehold plots to freehold in a board meeting on Tuesday.
Under the Chairmanship of Delhi Industries Minister Satyendra Jain, DSIIDC has decided to grant the freehold ownership of factories and plots in industrial areas where plots were allotted under relocation scheme.
"The allottees who have completed five years from the date of allotment and have completed the construction and started their factory are eligible for this scheme. This proposal has been sent before the Delhi Cabinet for its approval," he said.
The DSIISC board took up issue on Tuesday and decided to bring the Policy for conversion from leasehold to freehold.
Taking to social media, Jain tweeted, "On the directions of Hon. CM @Arvindkejriwal, DSIIDC in its board meeting today decided to convert Bawana industrial area's Leasehold plots to freehold. The matter has been sent for approval of Delhi Cabinet."
In the board meeting, it was also decided that in the year 2005, a conversion scheme for converting industrial plots allotted by Industries department from leasehold to freehold was introduced.
The properties alloted under the relocation scheme where the construction of a building has been completed and industrial activity has started, be brought within the ambit of conversion scheme.
The freehold rights would allow the owners to take loans directly from banks while they were now forced to go to moneylenders. Over 16,000 factories located in the area will be benefited.