Advertisement
The Gulf conflict has disrupted global supply chains, pushed...
REITs have changed the way commercial real estate is owned a...
What does it take to preserve a real estate legacy while bui...
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
The Maharashtra Cabinet has approved changes to the interest payable on delayed land acquisition compensation and concessions on land-related charges for renewable energy projects. The decisions include amendments to Section 72 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, to revise the applicable interest rate when compensation payments are delayed. For renewable energy projects, the Cabinet approved exemption from stamp duty on internal land transfers between companies within a group or special purpose vehicles and a 25% concession on land transfer fees for purchased land. The Cabinet also cleared proposals covering state agriculture posts, financing for a cooperative sugar factory, private skill universities, social work education and judicial infrastructure in Nanded district.
The Maharashtra Cabinet approved a revision in the interest rate payable on delayed land acquisition compensation and cleared concessions on land-related charges for renewable energy projects at its meeting on Tuesday, according to an official statement.
The Cabinet approved amendments to Section 72 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013. The amendment will revise the interest rate applicable in cases where compensation payable for acquired land is delayed.
The Cabinet also approved measures aimed at reducing land transaction costs for renewable energy projects. Under the decision, internal land transfer transactions between companies belonging to the same group or special purpose vehicles (SPVs) established for renewable energy projects will be exempt from stamp duty.
In addition, the government approved a 25% concession on land transfer fees for land purchased for renewable energy projects. The measures cover transactions associated with land acquisition and internal transfers required for projects being developed in the renewable energy sector.
Separately, the Cabinet approved the creation of four posts in the Agriculture Department as part of a revised organisational structure for its field offices. The posts comprise Director of Agriculture (Agricultural Engineering, Asset Management and AgriStack), Joint Director of Agriculture (Statistics), Joint Director of Agriculture (Information and Technology) and Additional Director, AgriStack (Revenue).
Two of the Joint Director positions will be filled through deputation. The revised structure is intended to provide for the department's identified functions across agricultural engineering, asset management, statistics, information technology and AgriStack-related work.
The Cabinet also approved a proposal allowing the Shri Nilkantheshwar Shetkari Cooperative Sugar Factory at Killari in Ausa tehsil of Latur district to obtain financing from the National Cooperative Development Corporation (NCDC). A proposal for a loan of INR 18.09 crore will be forwarded to the NCDC for capital expenditure and working capital requirements.
Changes to the rules and guidelines governing the establishment of private skill universities on a self-financed basis were also approved by the Cabinet.
In the higher education sector, senior colleges will be allowed to introduce social work as an independent faculty, along with new courses and additional divisions. Existing social work colleges will also be permitted to introduce new courses and additional divisions on a permanent unaided basis.
The Cabinet further approved the creation of judicial officer and staff posts and associated expenditure provisions for establishing a District and Additional Sessions Court and a government pleader's office at Hadgaon in Nanded district.
The decisions cover land acquisition, renewable energy, agricultural administration, cooperative-sector financing, higher education and judicial infrastructure, forming part of the state government's latest set of administrative and policy approvals.
Source - PTI
Advertisement
Facebook
Whatsapp
