Whats new

Maharashtra government to take back industrial land if not used for 10 yrs

Eknath Khadse

Maharashtra government on November 19, 2015 decided that henceforth if entrepreneurs ‘acquire land’ to start an industry but fail to use it within ten years, the government will take back the land and return it to farmers. Maharashtra Revenue Minister Eknath Khadse said in Mumbai so far, there was no provision to give back the acquired land to farmers and hence the decision is important.

He added that now the entrepreneurs can start the actual production within a period of five years from the date of purchase of land. If he fails to do it, he will be given an extension of another five years to start production, on a condition that he pays two per cent surcharge every year calculated on the cost of land. State Industries Minister Subhash Desai informed that the decision will be applicable only to the revenue land.