The Deendayal Port Authority has announced new reserve prices for land leasing, aimed at facilitating the development of major industries, including a mega marine cluster.
In a notification issued on March 17, 2025, the Port Authority, under the powers conferred by Section 27 of the Major Port Authorities Act, 2021, has approved the reserve price/ market value/lease rent. The approved rate is Rs. 7.06 per annum/per square meter, which translates to Rs. 28,570.83 per annum/per acre.
The decision was made by the Board of Members of Deendayal Port Authority, as per Resolution No. 136 dated February 7, 2025, and was based on recommendations from the Land Allotment Committee.
Key conditions of the new rates include:
-
The reserve price will be effective from the date of notification in the State Gazette and will remain valid for five years.
-
An annual escalation of 2% will be applied to the reserve price, with the first escalation occurring one year after the notification date.
-
Other conditions governing the lease rental/license fee will be in accordance with the Policy Guidelines for Land Management, 2015, and the Clarification Circular (Land Management) No. 1 of 2019-20 issued by the Ministry of Shipping, Government of India, along with any subsequent amendments.