The Housing and Urban Development, Punjab-2013' was approved at a meeting of the state cabinet chaired by Punjab Chief Minister Parkash Singh Badal here, an official spokesman said.
The new policy would also focus on rationalisation of norms for the housing projects thereby making the procedures far simpler and time bound, he said.
The policy incorporates the issues of rationalised development controls, common buildings rules, incentives for construction of affordable houses and green buildings, procedures and time lines of approval of various projects and rationalisation of potential zones, density and charges.
"These policies were aimed at acquiring land easily for the urban development projects for the benefit of both government as well as the land owners," the spokesman said.
In another decision, decks were cleared for setting up of the Directorate of Maize Research in the state with the Cabinet approving transfer of 100 hectares of land in Ladowal near Ludhiana, free of cost to the Indian Council of Agriculture Research (ICAR).