Punjab eyes Rs 2,000 cr from land deal

The Punjab government expects to raise Rs 2,000 crore in the next two years by the implementation of optimum utilisation of vacant government land (OUVGL) scheme.

The state government has mandated Feedback Ventures (P) Ltd for commercial utilisation of vacant government land.

Feedback Ventures will compile all the data of vacant government lands and classify them into different categories. Also, it would prepare project reports for the properties awarded by the Punjab Infrastructure Development Board (PIDB).

Recently, the council of ministers approved the scheme for optimum utilisation of vacant government land through commercial exploitation by the PIDB. It was also approved that the committee headed by the chief secretary will take all decisions pertaining to implementation of the scheme.

The chief secretary has written to all the departments to submit details of the vacant land lying under their control.

Speaking to Business Standard, PIDB's chief legal advisor, Gagan Anand, said, "According to the data compiled, there are about 9,800 state government properties which are lying unutilised. Of these, 6,000 properties belong to gram panchayats and will not be brought under the scheme."

"Very soon, the PIDB would engage real estate consultants to implement the scheme. The department would soon invite expressions of interest," he said.

He added that the department had mandated Feedback Ventures for the 10 acres adjoining Amritsar jail for structuring the project. "The land would be auctioned for putting up a five-star hotel."

Recently, the council of ministers approved the transfer of vacant land of central jails at Amritsar, Gurdaspur and Ferozepur to the PIDB for commercial exploitation. About 37 acres of surplus land of Amritsar mental hospital was also handed over to the PIDB.