The Kerala government has tightened the screws on land ceiling waivers. Hereafter, only entrepreneurs who invest at the rate of Rs 10 crore per acre and create at least 20 jobs, will be entitled to land ceiling exemptions. The land holding limit for individuals is 15 acres in the land-famished state. But several people were claiming exemptions claiming industrial and economic purposes.
“The new regulation to tighten the exemptions on land ceiling was prompted by the high population density and shortage of land in the state,” chief minister Oommen Chandy told mediapersons. “This will make it hard for real estate players to circumvent land ceiling regulations,” he added. The new regulation is expected to have a phenomenal impact on the land utilisation dynamics of the state. Industrial and tourism outfits, IT companies, healthcare and educational institutions can make use of the exemptions, since the waivers are focused on them.
The regulation was mooted after the state government noticed tracts of land, procured through exemption to land ceiling, being kept unutilised.
Currently, the new rule will focus on fresh application.