The Housing & Urban Development Department Punjab is coming up with a first-of-its-kind land pooling policy to create land bank for industrial projects.
Under this, landowners having less than an acre will be allowed to club their land with another owner and apply as single landowner.
The owners will be able to opt for compensation under the Right to Fair Compensation and Transparency in the Land Acquisition, Rehabilitation and resettlement Act, 2013, or for commercial and industrial plots in the land pooling policy.
The landowner opting for the land pooling can opt for three plots, industrial and commercial, depending upon the area -- one acre, 1.5 acre or two acres being acquired. Another option includes giving two industrial plots for one acre of land being acquired.
The policy drafted by a panel of the Punjab Urban Planning and Development Authority (PUDA) and the Greater Mohali Area Development Authority (GMADA), recommended industrial plots of different sizes -- 500 sq yard, 1,000 sq yard and 2,000 sq yard, besides commercial sites of 121 sq yards.