Goa to Convert Industrial Land from Lease to Freehold
Representative AI image PANAJI: The Goa Industrial Development Corporation (Goa-IDC) is planning significant reforms to enable the conversion of industrial land from leasehold to outright ownership. At a board meeting on Friday, the Goa-IDC also considered simplifying rules regarding the transfer, sublease, subdivision, and amalgamation of industrial plots. The proposed amendments are part of the Centre’s Compliance Reduction and Deregulation Initiative under the Viksit Bharat 2047 agenda. Phase II of this initiative identified industrial land use as a priority area, recommending a more liberal approach to leasehold-to-freehold conversions and replacing prior approval requirements with a simpler notification process for transfers…