In the wake of Noida twin towers demolition due to flagrant violation of norms, Uttar Pradesh government is formulating a new township policy to be ready by October this year.
This contemporary township policy will be aimed at serving the interests of all the stakeholders including consumers, developers, investors etc. The thrust is on making the policy more contextual in order to leverage the strong potential that the real estate sector offers in attracting investments. For this, the emphasis is on showing zero tolerance against shady land deals in real estate sector and clamping down on unplanned and illegal developments.
Under the new policy, the townships will be developed keeping in view the requirements for the next 50 years. For future townships, the master plans of the development authorities will include specific blueprints and financial management for long-term self sustainability. In the recent years UP has garnered private investment of Rs 31000 crore in townships/integrated townships projects and now with the new township policy in place before the UP global investors summit, in January 2023, the state government will be seriously targeting to garner investments worth Rs 10 trillion .
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