J&K Govt approves major initiatives to boost solar power and urban development

SRINAGAR — The Jammu and Kashmir Government has approved significant subsidies and policies to enhance the implementation of the PM Surya Ghar Scheme and to foster planned urban development in the region.

The Administrative Council, chaired by Lieutenant Governor Manoj Sinha, sanctioned an additional subsidy from the UT budget for the PM Surya Ghar: Muft Bijli Yojana, aiming to make solar energy more accessible to households. The meeting also saw attendance from Advisor R.R. Bhatnagar, Chief Secretary Atal Dulloo, and Principal Secretary to LG Mandeep Bhandari.

Launched by Prime Minister Narendra Modi in February 2024, the PM Surya Ghar: Muft Bijli Yojana seeks to install rooftop solar plants in one crore households across India by March 31, 2027, providing up to 300 units of free electricity per month.

With the newly approved subsidies, beneficiaries in J&K can expect substantial financial relief. For a 1 kW system costing Rs. 55,000, the subsidy has increased to Rs. 36,000. Similarly, subsidies for 2 kW and 3 kW systems have been raised to Rs. 72,000 and Rs. 94,800, respectively.

This enhanced financial support, coupled with a loan facility from SBI at a 7% interest rate, aims to make solar power adoption more appealing, particularly for poor and lower-middle-class households.

J&K Bank will also be onboarded to provide easier access to loans. The scheme’s success is expected to grow with the completion of smart metering in rural areas, motivating consumers to install solar rooftop systems to reduce electricity costs.

Additionally, the Administrative Council approved the Land Pooling Policy and Transferable Development Rights (TDR) Policy, which are designed to stimulate the real estate sector in J&K. These policies will allow developers and private landowners to pool their land for development, ensuring ample space for infrastructure, parks, and other amenities. The benefits include increased land value for owners and better infrastructure development.

In a related development, the National Building Construction Corporation (NBCC) has been engaged to expedite the construction of the Srinagar Satellite Township at Rakh Gund Aksha Bemina. The township will span 3,290 kanals and include residential plots, group housing apartments, and 3,200 affordable housing flats.

Additional amenities will include commercial spaces, government offices, green spaces, sports facilities, and a 200-key five-star hotel. The project, to be completed in phases over five years, will also house a High Court complex and Medicity.