India News | DSIIDC to Convert Industrial Plots Allotted Under Relocation Scheme from Leasehold to Freehold

New Delhi, Dec 22 (PTI) In a bid to provide relief to industrialists in the national capital, the Delhi State Industrial and Infrastructure Development Corporation (DSIIDC) on Tuesday decided to convert industrial plots allotted under the relocation scheme from leasehold plots to freehold.

The allottees who have completed five years from the date of allotment and have completed the construction and started their factory are eligible for this scheme.

"The DSIIDC has decided to grant freehold ownership of factories and plots in industrial areas where plots were allotted under the relocation scheme," a statement said.

The proposal has been sent to the Delhi Cabinet for its approval.

Taking to social media, Industries Minister Satyendar Jain tweeted, "On the directions of CM Arvind Kejriwal, DSIIDC, in its board meeting, today decided to convert Bawana industrial area's leasehold plots to freehold. The matter has been sent for approval of Delhi Cabinet."

The freehold rights would allow the owners to take loans directly from banks. Until now, they were forced to go to money lenders. Over 16,000 factories located in the area will be benefited, the statement said.

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