CHANDIGARH, June 2— The Punjab Cabinet on Monday approved the much-anticipated Land Pooling Policy, a voluntary scheme aimed at curbing illegal colonisation and promoting planned urban development.
Under the new policy, farmers can offer their land for development and, in return, receive a 1,000 sq yd residential plot and a 200 sq yd commercial site for every acre contributed. The policy will initially be rolled out in 27 cities across the state.
Renewable Energy Minister Aman Arora emphasised that the initiative is entirely voluntary, with no coercion involved. “Farmers can either develop the land themselves or hand it over to private developers or government agencies,” he said.
Those contributing nine acres or more will receive back one-third of the land—three acres—for developing group housing societies. Until the return plots are handed over, landowners will receive Rs 30,000 per acre per year for a maximum of three years.
The developer, whether private or public, will be responsible for all external development work under the scheme.
