Uttar Pradesh Township Policy 2023 Overview
Sector Overview :
The Uttar Pradesh Township Policy 2023 sets a foundation for modern, high-quality living spaces, catering to a diverse demographic. It marks a strategic pivot to foster private-sector participation in creating holistic townships, equipped with state-of-the-art amenities and infrastructural excellence. Finance Minister Suresh Khanna echoed the sentiment of progressive urbanisation, underscoring the government's commitment.
Sector Overview
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Encouraging Planned City Development: With this policy, the Uttar Pradesh government aims to foster planned urban development, ensuring modern townships with superior civic amenities are established, thus improving the quality of life for its residents.
Simplified Approvals through Green Channel: A standout feature of the policy is the establishment of a green channel for expedited project-related approvals. This 'single window system’ ensures a streamlined process for investors, offering all necessary approvals and addressing objections promptly.
Commitment to Social Equity: Each township developed under this policy will feature a 10% reservation for both the Economically Weaker Section (EWS) and the Low-Income Group (LIG), demonstrating a commitment to inclusivity and social equity.
Objectives
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- Providing affordable housing across various society segments.
- Preventing unplanned sprawl in city peripherals, enhancing urban life quality.
- Drawing investments, both domestic and foreign, to fuel infrastructural advancement.
Enablers
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A notable enabler within the policy is the provision for a green channel for swift approvals via a Single Window System, emphasizing efficiency and transparency in project sanctions. Importantly, the policy significantly lowers the land requirement for initiating township projects, making it more feasible for developers to contribute to Uttar Pradesh's urban transformation.
Investment and Fiscal Incentives
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Investors and technology firms are encouraged to leverage this unique opportunity to be part of Uttar Pradesh's technological renaissance. For detailed insights and to explore investment opportunities, reach out directly to the Project Management Unit under the supervision of the Nodal Agency.
Significant Reductions in Conversion Fee: Investors stand to benefit considerably from reductions in the land conversion fee. For townships in areas with a population of more than 5 lakh but less than 10 lakh, a rebate of 25% in the conversion fee is offered.
In areas where the population is less than 5 lakh, the reduction in the fee could be as substantial as 50%.
In areas where the population is less than 5 lakh, the reduction in the fee could be as substantial as 50%.
Eligibility for Private Developer: Private developers now have an opportunity to partake in township development projects, opening up new avenues for investment and growth.
Flexibility in Land Use: For townships with a land area of below 50 acres, the policy designates these exclusively for residential purposes.
Those encompassing 50 acres or more can also utilize the land for agricultural purposes, following protocols for converting it to residential use if desired.
Those encompassing 50 acres or more can also utilize the land for agricultural purposes, following protocols for converting it to residential use if desired.
Exemption from Conversion Fee for Non-Residential Land: Land intended for non-residential uses, with the exception of major development projects, will enjoy an exemption from the conversion fee. Such lands are also eligible for swapping within the development plan.
Facilitation of Foreign Direct Investment (FDI): The policy aligns with the Indian government’s FDI policy, allowing for foreign investment in township projects, thereby broadening the investment pool.
