Township projects will not be promoted in West Bengal anymore
With the new amendment made on the ceiling on land holding bill, the future of the township and large housing complex projects has been barred.
West Bengal legislative assembly removed the township project from the exemption list of the ceiling on land holding bill.
According to the state government, construction of large township is not essential for the state as land in the state is scarce.
With this amendment, no projects in the state will be able to receive any foreign direct investment (FDI), as reserve bank of India does not allow FDI in projects smaller than 25 acres.
While West Bengal was among the first few states who received FDI in 2006.
More related story:
Building norms gets more tougher in Darjeeling
WB Land Bill to be tabled in winter session
Source : LiveMint
ceiling on land holding bill, construction of large township, FDI, foreign direct investment, housing complex projects, land bill in west bengal, projects in west bengal, real estate in west bengal, State government, township projects in west bengal, West Bengal legislative assembly
Really good information can be found on this web site.