??|?? November 24, 2012 ?? 08:55am ??|
With land resources shrinking and property prices shooting, Punjab is all set to lead India on the path of green growth by subsidising high-rise and energy efficient buildings in the state.
The state government has plans to attract massive skyscrapers in its cities and incentivise high rise and energy-efficient constructions through its new Real Estate Policy to be unveiled by mid-December.
?We will incentivise high-rise constructions in our new real estate policy. But Punjab must have the tallest building in the country,? said state Deputy Chief Minister Sukhbir Singh Badal.
The new policy for the real estate sector, currently being fine tuned, will incorporate measures to promote the use of green materials to create sustainable buildings and thereby boost the emerging concept of green growth with low carbon emissions.
Showcasing its real estate wealth to realtors of the country, Badal has already announced that Punjab government would unveil its new Real Estate Policy by December 15 that would accord industry status to the sector and remove various bottlenecks and simplify procedures. Once accorded the industry status, the real estate sector will get all the benefits available to industries. The state government is also planning to grant industry status to give a fillip to investments in the state in a bid to boost its economy which is facing a crunch due to global economic downturn.
The state hopes to attract an additional Rs 50,000 crore investment into the state soon after the new policy is unveiled. Badal said the state was set to simplify procedures and make investment attractive by removing all bottlenecks and making the real estate policy incentive-based.
To attract further investment in the real estate market, Badal claimed that Punjab would be ?a power-surplus state by next year and would have one of the best air and road connectivity with the starting of three international airports and four-six laning of state and national highways running across the state?. Showcasing real estate opportunities in GMADA region, Badal said city center (80 acre), medicity (200 acre), IT City (1600 acre), Education city (1700 acre) were life-time opportunities in Chandigarh?s vicinity.
-TNS
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