Meghalaya doubles govt land lease from 30 to 60 years; says move to attract investors

Shillong, Dec. 3: The Meghalaya government on Monday doubled the lease period of government land from 30 to 60 years to attract large investors into the State.

The decision to increase the lease period was taken at a Cabinet meeting after it was observed that the Return on Investment (Rol) on a large project with a 30-year lease period is a concern. Taking into consideration the apprehension of investors for large investments, the lease period was increased.

Government spokesperson and Cabinet Minister, Paul Lyngdoh, said, "For example, the Orchid Polo, which is a joint venture project, the proposed investment is about Rs 300 crore. So in such cases, investors would naturally be apprehensive that their Rol may not materialise in 30 years. If after the expiry of the lease period, for any unforeseen reasons, the lease is not renewed then the investor would make a loss on the investment and also discourage other big investors to the State."

Lyngdoh said the Department of Revenue and Disaster Management has proposed to double the lease period and the Cabinet approved it. He further informed that at the end of the lease period of 60 years, the lease would be extended by another 30 years.

Meanwhile, Lyngdoh, who also holds the Social Welfare portfolio, said the State government would establish 15-20 new rehabilitation centres by 2025 for drug users. The government currently is funding nine centres owned and run by private institutions. "It is also partially or fully supporting several church-based centres," he said.

He further said that due to a shortage of such centres, many families are forced to send their loved ones to centres outside the State.

Recently two persons namely Rickelson Jyrwa and Meban Syndor died under mysterious circumstances in two rehabilitation centres in Assam. One such case was also reported earlier this year in a different rehabilitation centre in Assam.

Lyngdoh said the Meghalaya government has sought a report on the recent deaths from the Assam government. He said the government has written to the Assam government and the Deputy Commissioner of East Khasi Hills has also sought a report from her Assam counterpart, Lyngdoh informed.

- By Staff Correspondent