R'than govt plans to create bank of heritage properties

For the owners of heritage property in Rajasthan, the Resurgent Rajasthan Partnership Summit 2015 can be an opportune moment to make huge fortune.

The state government has sought details of all individual heritage properties to create heritage property bank in the state. These properties will be showcased to investors during the summit. The state government will play the role of a middleman to convince investors for setting up big tourism-related projects in these age-old properties.

A performa has been released by the Rajasthan government to seek basic details of private heritage properties which includes information about location, present status, unique selling point of the property, status of electricity and ground water, proximity from highway and other specifications of the property. Anyone having an old haveli, a fort and a small palace can fill details and enlist the property with the state government which will later deal with the investors.

“It’s a unique concept. People have havelies and forts in Shekhawati and western region of the state. If the state government deals on their behalf, it will lead to growth in tourism sector and owners of heritage property will be equally benefited,” said Sanjay Kaushik, tourism experts.

An exclusive tourism policy has also been launched by the state government which has special mention of creating heritage property bank in Rajasthan and convince foreign investors to set up big projects.

Through the tourism policy, the government has simplified all the existing norms for converting heritage properties into resorts and hotels. Conversation chargers and all kind of taxes for setting up big project in these properties have been completely abolished by the state government.

Moreover, investors or the owners will not have to taken any permission to start any commercial activity in 1,000 square meter area or 10 per cent of the total area of the heritage property, which ever is less. A new provision has been introduced following which heritage property can be mortgaged in any bank to get loan for the project. Earlier, banks would not grant loan on these properties because most of the owners had no legal document to claim their ownership. Under the new tourism policy, legal documents will be given to all heritage properties at municipal level.

Due to all such incentives, buyers from Delhi and National Capital Region have already searching for heritage properties in Rajasthan. These buyers want to make big profit by attaching these properties with state government. “A lot of inquiries are coming from Delhi and Gurgaon. They want old havelies in Shekhawati region,” said Vishnu Agarwal, a real estate agent.