Shillong, July 10: The state government on Wednesday finalized the land rates in the New Shillong Township (NST) phase-II and Mawkhanu area.

“The idea is that we have kept certain land which is there for us and then certain areas, which is there, which is free right now. The government has finalised rates for other state departments and central departments and other private sectors, who wish to come in so that we are able to generate revenue,” Chief Minister Conrad K Sangma told reporters after chairing a cabinet meeting here.

Stating that the government has got certain investors, Sangma said, “Now with the increase in the land premium, we felt it correct that we set up some kind of a policy and some base rate basis on which we will then be able to give the land to different agencies… all these will be in long term lease mostly and the rates for that have been fixed so the rates differ from state government to central government to private sectors, there are different rates being prescribed. The main idea is that the cabinet has decided today on fixing those rates.”

“And if all this falls into place, there should be quite a large premium that the government will be able to earn back from the long-term lease of these land plots,” he added.

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