Centre firms up new land-transfer norms to help public asset monetization

Subscribe to enjoy similar stories.NEW DELHI: Standardized valuation, identification of surplus land and norms for the transfer, exchange, lease and commercial sale of land are among the key features of a new framework that the Centre has put in place to unlock public land assets under the second phase of the ₹16.7 trillion National Monetisation Pipeline (NMP 2.0), two government officials said.The Department of Expenditure has issued consolidated guidelines governing the transfer and alienation of Central government land to speed up the monetization, redevelopment and transfer of such assets, replacing the fragmented and decades-old rules followed separately by ministries and departments to support infrastructure creation and mobilize non-tax revenue, they said.Government entities, including the railways, defence establishments, ports and state-run companies hold vast tracts of land across the country, including 2.35 lakh acres of surplus land with loss-making central public sector enterprises.

According to the Economic Survey 2021-22, CPSEs such as MTNL, BSNL, Bharat Petroleum, BEML and HMT had identified about 3,400 acres of surplus land for potential monetization.“A substantial portion of these assets has remained unused or locked in low-value use because of procedural delays, ownership disputes, overlapping claims between departments and lack of a uniform valuation mechanism,” the first government official said.“The new framework lays down standard procedures for transfer, exchange, lease and commercial sale of land owned by ministries, departments, attached offices, statutory authorities, Union Territories without legislature and government-controlled entities,” the second official said.One key change is the formal