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J&K real estate open to all
January 1 , 2022
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- The first-ever ‘J&K Real Estate Conference was held recently in Jammu.
- The Centre and the Jammu and Kashmir Union Territory governments have decided to throw open local real estate for “second homes and summer homes” to all the citizens of the country.
- This is to attract investments from real estate bigwigs.
- Under the newly introduced Jammu and Kashmir Development Act, the term ‘being permanent resident of the State’ as a criterion has been ‘omitted’, paving the way for investors outside Jammu and Kashmir to invest in the Union Territory.
- As a result, any citizen of India can buy non-agriculture land in Jammu and Kashmir.
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