The Board of Directors of Punjab Industrial Estates (PIE) on Friday announced "Exit Policy-2012" under which allottees of the Sundar Industrial Estate who have not yet started industrialisation process can now transfer/sale their plots in a year time.
According to the Punjab Industrial Estates Management and Development Company (PIE), Chairman, S. M. Tanveer, the policy would help accelerate colonisation process in the Sundar Industrial Estate. The decision regarding the policy was taken in view of the industrialists suggestions.
Earlier, the PIE management had restricted the customers/allottees to sell or transfer their plot before completion of three months of the sale deed or production. Now, the policy has been held in abeyance for a period of one year to facilitate such allottees. As per "Exit Policy-2012" all existing plot owners/allottees are allowed to transfer their plots during the period 15 March 2012 to 14 March 2013. However, those who have preferred litigation and filed cases in the court can also avail the facility subject to withdrawal of the cases.
The purpose of the policy is one time relief and the PIEDMC will revert back to the original terms and conditions at the end of one year. The new allottees of such plots would be bound to follow the original terms and conditions. Plot transfer is allowed with effect from March 15, 2012.