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Rate revision for industry land

The cost of “acquired land” is set to increase across the state.

Sources in the Bihar Industrial Area Development Authority (Biada) told The Telegraph that the cost of the land which had been acquired by the state government for industrial purposes could go up.

Entrepreneurs wishing to take land from Biada will also have to follow some new rules with the authority finalising the same at present. A formal notification will be issued soon regarding this.

“At present, the Biada is not taking any fresh applications from entrepreneurs. The process was stopped on October 31, 2013. This, however, does not mean that the authority has no land left in its industrial areas. We have very small amount of land to offer to investors. Some procedures regarding the land allotment process is being changed and the work will be completed soon. Once the fresh applications are invited, the entrepreneurs will be intimated at least one month in advance so that there is no chaos or confusion and the process remains smooth,” a Biada official said.

At present, the authority has around 111 acres of acquired vacant land meant for industrial use at their disposal.

The sources added that with the industries department having given entrepreneurs the liberty to search for their own land by contacting owners, the difference of land rates was quite wide and had to be made uniform. “The rate of the government-acquired land rests between Rs 2 lakh per acre and more than Rs 50 lakh per acre based upon the different industrial areas in which they are located. For example, in the Patna region, industrial areas are located in places like Aurangabad, Barauni, Biharsharif, Bihta, Buxar, Fatuha, Gaya, Jehanabad, Nawada, Patliputra and others. In the Patna region, around 34 acres are vacant in the industrial areas and the rate of the land varies from Rs 7 lakh per acre to more than Rs 60 lakh per acre. However, areas like Patliputra, Gaya, Barauni among others have no vacant land left,” another official said.

“The problem lies in the price quoted by private land owners, if at all they are interested in selling their plots to entrepreneurs who directly contact them. There is a huge gap between both the land rates. An approval from the state government has come and a formal notification will take place soon. The rate of the government-acquired vacant land will change from whatever it is now. It can be said the price quoted by any landowner is much higher than the price set by the government once a plot has been acquired,” the official added.

The official, talking about some more changes, said the entrepreneurs need to be more specific from now. “Soon, the Biada will start fresh land allotments. At present, the Biada website (www.biadabihar.in) is being updated and the list of land available in the industrial areas is shown. The rate revision will take place soon and would be uploaded. Once the window opens, the entrepreneur wishing to take land, needs to be specific on the exact plot they are looking for according to the list. At present, there are many who are not specific enough. If the number of takers of one plot in an industrial area is more, a lottery system will be in place,” the official said.