Punjab rejigs conversion policy, industrial plots can be used to build hotels, office space
Representative Image CHANDIGARH: In a rejig aimed at benefitting industry in Punjab, the state cabinet on Thursday approved amendments in the conversion policy, allowing altering use of industrial plots to build hospitals, hotels, and industrial parks at a conversion charge of 12.5% of the industrial reserve price. A new policy permitting the conversion of leasehold industrial plots and sheds into freehold ones was also cleared. Briefing media persons after the cabinet meeting, new and renewable energy minister Aman Arora said, “Industrial plots of 1,000 square to 4,000 square yards can now be used for commercial activity, banquet halls, rental housing,…