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Major change in Bengal’s land lease agreement likely in Budget session

Major change in Bengal's land lease agreement likely in Budget session

Kolkata, Jan 29 (SocialNews.XYZ) The West Bengal government might bring about some major changes in the clauses of land lease agreement in the state in the forthcoming Budget session of the Assembly, slated to start from February 4.

The budget for Financial Year 2023-24 might be presented on February 15, said Finance Minister Chandrima Bhattacharya said.


Although she refused to comment on the probable bills that might be brought about in the session, state government sources said that the major bill that will be proposed in the session is relating to conversion of government land given on lease to private entities into owned land or freehold land.

"Under this conversion scheme, those holding the land currently on 99 year lease will be given an option of purchasing the same on an existing market rate. On one hand, sufficient funds will come in the state exchequer through the sale proceeds. On the other hand, this will bring about a check on the tendency of certain private entities to keep the land taken on lease for setting up industries unused," a member of the state cabinet, speaking on the condition of anonymity, said.

As per the cabinet member, since the leased land is given to private entities at rates cheaper than the existing market rates, some use the opportunity of keeping that leased land unused for a prolonged period.

Meanwhile, sources from the state Land & Land Reforms Department said that this new bill for conversion of leased land into owned or free hold land will be applicable for both residential and commercial plots that are under the Kolkata Municipal Corporation, the New Town Kolkata Development Authority, and the West Bengal Housing Infrastructure Development Corporation, among others.

In the districts, it will be applicable to land owned by the Sriniketan Santiniketan Development Authority in Birbhum, the Asansol- Durgapur Development Authority in West Burdwan, and the Siliguri-Jalpaiguri Development Authority in Siliguri and Jalpaiguri districts.

"The decision for the proposed conversion of leased land into owned or freehold land was cleared at a meeting of the state Cabinet on January 11. Now this will go to the Assembly for its legislative clearance," an Land & Land Reforms Department official said.

Source: IANS

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Major change in Bengal's land lease agreement likely in Budget session

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