UP govt working on bulk land allotment policy

LUCKNOW The UP government is working on a new bulk land allotment policy, in line with chief minister Yogi Adityanath’s vision, which will offer special facilities, including land parcel selection and streamlined land allotment processes. Under the proposed scheme, companies with 100% FDI and capital investment exceeding ₹100 crore will be given priority under the policy.

Uttar Pradesh, which is rapidly emerging as the country’s ‘most favoured destination,’ is taking bold steps to become a ‘power hub’ for Fortune Global-500 companies. To accelerate the progress of large investment projects in the state, the initiative aims at easing the way for top-ranked companies from Fortune Global-500, Forbes Global-2000, Asia Best 200, and Economic Times-200 to establish their operations in UP, reinforcing the state’s position as a key player in global business and investment, according to an official release.

The state already has the Foreign Direct Investment (FDI) Policy-2023 and the Incentive Policy for Fortune-500 Companies’ Investments 2023 in place. To implement investment proposals under these policies effectively, the bulk land allotment policy will help speed up the land allotment and subsidy processes.

UP has created a favourable investment environment, attracting the attention of major global companies while developer companies like Singapore’s Sembcorp and Japan’s APSEZ and Marubeni have shown interest in investing in the state.

The policy will help accelerate the development of plug-and-play industrial areas at competitive rates, the construction of state-of-the-art facilities in new industrial zones, and the creation of private industrial areas, innovation-research and development centres, skill centres, logistics services, commercial activities, and CSR projects in industrial areas.