India: Officials OK Guidelines for Land Management by Major Ports
- Business & Finance
The Union Cabinet approved the Policy Guidelines for Land Management by Major Ports 2014. Land Policy is one of the most significant policy frameworks guiding the overall functioning and development of the port sector.
These guidelines aim at optimum utilization and optimum realization of the value of land reserves by linking it with prevailing market rates available with major ports of the country. The policy seeks to minimize discretionary powers of port authorities in the process of allotment, by putting in place a mechanism of leasing / licensing of port land through a transparent tender-cum-auction methodology.
The main objective of the policy is to ensure that land resources are put to their optimum use as per the approved land use plan. This will also bring in more accountability and transparency into the process of land leasing and licensing and minimize the element of discretion and arbitrainess at port level.
The policy will be made applicable to all the major Port Trusts and Ennore Port Limited, except for land relating to the township areas of Kandla, Mumbai and Kolkata Ports.
Press Release, January 6, 2014