The state government’s new industrial policy will lead to the unlocking of 5,765 acres of land in Pune and 8,797 acres of land in Thane-Navi Mumbai area, official data shows. Of this, 40% of land will be used for the construction of houses and shops.

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According to the state government officials, there were 124 special economic zones across the state. The new industrial policy allows the corporate firms to unlock their 40% of land which is over 35,000 acres in Mumbai. And, at remaining 60% of land the industry will be developed.

“These lands, acquired under SEZs, were locked for the last several years. Land is a crucial factor for the development of any state. Because of land scarcity, many entrepreneurs were reluctant to start industries. Now, the SEZ land will be used for the construction of houses, and the remaining land for industries. The new industrial policy is good but it should be implemented properly. Otherwise, it will just remain another good policy on paper,” said Pankaj Kapoor, managing director of Liases Foras, a real estate research firm.

Activists claim that the government’s recent industrial policy has been framed so as to benefit corporate firms rather than the common man. “The government is saying corporate groups will be compelled to develop the industrial area first, and after that they will be allowed to sell the houses which were developed on their 40% area. But in reality, things are different. State industrial department data states even if one-third of the industrial area is developed, the corporates will be allowed to sell the houses,” an activist alleged, requesting anonymity.

The activist further added that the houses will be constructed on not just 40% of the SEZ area, but will gradually take up 80% of the land. “It is a misguiding policy approved by the state authority just to benefit a few groups. People are fooled by the tag of ‘employment generation’,” he alleged.

However, Shailesh Puranik, managing director of Puranik Developers, said that due to lack of space in the city, the property prices were soaring. “Now, the property prices will be eased once the supply increases. It is good that the maximum land will be unlocked in Mumbai’s peripheral locations — Navi Mumbai, Thane and Pune — where the cost of the property was high.”