Calcutta, June 22: The government will allow transfer of land lease at state-run industrial estates in a bid to unlock unutilised and under-utilised assets.

The West Bengal Industrial Infrastructure Development Corporation (WBIIDC) manages the 13 industrial estates across the state. The proposal to allow lease transfer was given the go-ahead at a recent meeting of its board, headed by commerce and industries minister Nirupam Sen.

“The decision was taken with the objective of raising funds, activating assets and facilitating growth of new industrial units in Bengal,” said WBIIDC managing director Atri Bhattacharya.

“Recently, we conducted a survey of the units registered at the estates.... It was revealed that some units have stopped functioning and some are planning to close down. We want to give these entrepreneurs an exit option and usher in new players,” is how Bhattacharya explained the “win-win” arrangement.

According to the new guidelines, owners will be given the option of lease transfer according to the present valuation of land. The WBIIDC will have to be paid 10 per cent of the deemed value of the transaction.

The WBIIDC has roped in a consultant to fix the present market value of land at the estates, which would be used as reference rates. “But in case the owners fail to find buyers, they can return the land to us at the original price,” Bhattacharya said. The WBIIDC, too, has started looking for buyers.