Punjab slashes freehold conversion charges for industries in Mohali by 98%

Earlier, charged at ₹825 per square metre, the fee has been reduced to ₹20 per square metre

In huge relief for the Mohali industry, the Punjab government has reduced the charges for leasehold to freehold conversion for industrial properties by 98%.

The government has announced these special concessions to boost industry and create a positive environment for them in Mohali district. (HT file photo)

Earlier, charged at ₹825 per square metre, the fee has been reduced to ₹20 per square metre. Besides, the government has allowed exemptions in processing fee for services being provided by the Punjab Small Industries Export Corporation Limited (PSIEC) and Punjab Infotech.

“The Punjab government has announced these special concessions to boost industry and create a positive environment for them in Mohali district,” said Sundar Sham Arora, Punjab minister of industry and commerce.

He was speaking after a meeting with the members of Mohali Industries Association (MIA), Punjab Infotech and district industry and commerce department officials.

Hailing the decision, MIA president Yogesh Sagar said, “This favourable decision will revive the sinking industry in Mohali. It will give a boost to the micro, small and medium enterprises and attract more newbies to set up shop in Mohali.”

Sagar said the MIA was also persuading Punjab government to hand over the garbage dumping ground land to the industry as the land was earmarked for industrial units.