MIDC gets back unused 100 acres from investors

MIDC
Grappling with shortage of land, MIDC says it will be able to fulfill other investors' demand for space

In the past one year, investors have returned 45.55 hectares (111 acres) of land in Pune district to the Maharashtra Industrial Development Corporation (MIDC) as it remained unused. The MIDC has been facing shortage of land to cater to increasing demand from investors.

Even as the process of taking more land is under way, the MIDC has got back 346 plots ó mainly from Baramati, Talegaon and Ranjangaon areas.

With the state keen to promote small scale industries, the MIDC is all set to take back about 600 plots from various parts of the district which were lying unused. "We have a huge list of investors lined up for Pune and many other parts of the state. Shortage of land has always been an issue. These unused plots can help us provide space for new investments," said senior officials from the State Industry Department.

According to regional officer MIDC, Pune, Nilesh Gatne, they have got back 100 acres and they were trying to get back the remaining as well. As the MIDC is taking back land from the entire state, the maximum number of plots being returned are from Pune district, officials said.

Officials said the MIDC is taking back the land after giving the investors a refund. "They get the refund with a 5 per cent cut," officials said. Pune falls in the category where investors are given four years to develop the industrial plot. "After conducting a survey, we found that there are many plots which have been lying vacant for more than 10-15 years. We served notices and are awaiting reply to take back the land as it would help other investors who are keen to start their projects immediately," MIDC officials said.

However, if the affected party does get back with a valid reason, the MIDC has been giving them time frame.

The MIDC has acquired around 56,000 hectares of land in the last 45 years to develop nearly 233 industrial estates across the state. Senior officials said the move helps unlock industrial land if the investor does not use the land within the stipulated time frame.

Industrial law

According to the State Industries Department, the state is looking at replicating a provision in the industrial laws that allows it to take back industrial plots from investors if production does not start in the given time frame. The MIDC will, however, allow the investor to hold back plots if a certain percentage of construction has taken place. No construction was done on the plots taken back in Pune. The MIDC had issued 3,033 notices to various industrial land owners who had not started construction. As per the policy, a developed region is allotted three years to start work in the area while a backward area is given five years. Pune is followed by Kolhapur, Thane, Amravati and Aurangabad.

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