States » NorthPosted at: Jun 26 2025 6:45PM


Big relief to Punjab’s industry as Cabinet approves industrial plot conversion

Chandigarh, Jun 26 (UNI) The Punjab Cabinet, under the leadership of Chief Minister Bhagwant
Singh Mann, on Thursday approved significant amendments to the state’s conversion policy, enabling the conversion of industrial plots into Hospitals, Hotels, Industrial parks, and other permitted uses.

A decision to this effect was taken during a meeting of the Council of Ministers held at the Chief Minister’s official residence.
Disclosing this here today a spokesperson from the Chief Minister’s Office said that earlier conversion policies were introduced in 2008, 2016, and 2021. However, industrial associations had raised concerns about certain restrictive conditions in the 2021 policy. In response, a committee reviewed the requests from industrialists and proposed a set of changes applicable to freehold plots. As per the revised policy, a conversion charge of 12.5 percent of the industrial reserve price will be levied.
The Cabinet also approved a policy for converting leasehold industrial plots and sheds into freehold ones, particularly for plots managed by PSIEC. These plots and sheds, originally allotted on a leasehold basis, included complex clauses related to transfer, leading to complications in property transactions.
The new policy aims to streamline industrial estate management, enhance ease of doing business, and reduce litigation and uncertainty among allottees. Additionally, this conversion is expected to generate additional revenue for the state.
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Tags: #Big relief to Punjab’s industry as Cabinet approves industrial plot conversion
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