Mumbai: The chief minister Devendra Fadnavis-led BJP government has given a reason for builders and industrialists to cheer this year.
The state cabinet approved a policy on Tuesday, which allows use of industrial land for residential and commercial purpose under some specific conditions.
The government's nod will open up huge parcels of industrial land for housing and commercial purpose in Mumbai, Thane and Pune among other cities.
It may be recalled that many tried to exempt industrial lands from the ULC (urban land ceiling restrictions) sec 20.
Many cases are languishing in the court since August 14, 2009.
The Bombay high court empowered the state not to exempt industrial lands from ULC and the matters went to the Supreme Court, which is still pending.
However, now, change of user could be the alternate way to open up these land parcels, said sources from housing department.
Sources said that the government has sought legal opinion from advocate general on the issue. The government had acquired a lot of land before 1970 under the Land Acquisition Act and given it to industrialists at very nominal rates. After so many years, few companies are closed, partially working, in financial crunch, complaints of pollution, matters are pending in the courts.
The government has appointed a committee under additional chief secretary finance and it has submitted a report. This major decision will open up the huge land for housing. Government has said that they can't take back this land if not getting used for industrial purpose for which it is acquired.
