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In keeping
with the current economic thinking PUDA has taken major steps to promote
private participation in urban development. So far the thrust of private
participation has been in licensing of private colonies. Private
individuals and companies who wish to develop land into a colony are
required to obtain a licence under the Punjab Apartment and Property
Regulation Act, 1995.So far PUDA has licensed 189 colonies covering
3857.20865 acres of land .
PUDA has also involved private builders in provision of housing.
PUDA is also encouraging people to form Co-operative Societies to take
land and build houses themselves. In order to encourage intensive
utilisation of land Co-op.Societies are given land for multi storeyed
housing only and not for plotted development. Land for Co-op.Societies is
attractively priced as compared to land for individual plots.
PUDA encourages private participation in the development of prime sites
offered to PUDA under the Optimum Utilisation of Vacant
Govt. Lands scheme.
The development of a new city centre Sector 62, SAS
Nagar would also be a major opportunity for private sector
participation. A policy frame work to create high quality urban infrastructure including real estate components such as integrated townships, shopping malls, luxury hotels, IT parks, software parks, leisure and entertainment facilities etc. is in place.
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