January 23, 2024: In a move that will benefit lakhs of people, the Odisha state cabinet, on January 22, 2024, approved the proposal to reduce the fee for conversion of leasehold land of Odisha State Housing Board or any development authority to freehold from the existing 10% to 3%, according to media reports.
The Cabinet, in the meeting chaired by Chief Minister Naveen Patnaik, approved the proposal of the Revenue and Disaster Management Department to amend the Odisha Government Land Settlement Rules, 1983, to reduce the conversion fee.
According to the decision, the conversion fee will be reduced from the existing 10% of the prevailing market value of the land to 3% of the valuation of land fixed under the guidelines prescribed under the Odisha Stamp Rules, 1952 for gharabari kisam of land situated in the vicinity.
During the meeting, the cabinet also approved other proposals, such as a Coffee plantation scheme in six districts, a new biotechnology policy, Special incentive package for the JSW Group’s EV project, Special incentive package for the JSW Group’s EV project and an Amendment of IPR-2022 for SEZs.
In 2022, the Odisha Government initiated the process for easy conversion of leasehold land to freehold in cities such as Bhubaneswar and Cuttack. According to a media report, Chief Secretary Suresh Chandra Mahapatra advised the General Administration & Public Grievance and Housing & Urban Development departments to decentralise the power to convert leasehold land to freehold in favour of the development authorities and State Housing Board.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at [email protected] |
Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
Related Posts
Centre approves 1.10 lakh more houses in 6 states under PMAY.
Housing minister Naidu expresses concern, asks states to notify real estate rules.
Railways’ 12,066 acres of unused land up for grabs, in 13 states.
SC pulls up centre for its failure to utilise Rs 77,000 crores for environment protection.
Centre approves construction of nearly 6.28 lakh houses for urban poor.
Odisha seeks 5 lakh PMAY houses for cyclone Fani-hit people.
