kolkata real estate industry has sought scrapping of the urban land ceiling and regulation act 1976 in west bengal and also urged the state government to adopt china plus one policy in the state for attracting indian as well as transnational companiescredaiwest bengal the apex real estate body in the state along with credai bengal are writing to state government for a series of policy interventions to boost the real estate and the economyin a webinar on saturday with leading real estate players and chamber representatives state finance minister amit mitra had told bengal inc that it is not possible for the state to give fiscal stimulus but for policy intervention he asked them to forward a proposalin the letter real estate bodies pointed out that some policy intervention and reforms are needed to create a positive perception in a demonstrative wayit has emphasised that to send a good message to investors particularly attract domestic and foreign investment in townships logistics commercial and residential real estate scrapping the urban land ceiling act as a first preference alternatively bringing the enabling clause in urban land ceiling act whereby the development becomes faster without any bureaucratic hurdle or a backdoor methodas per the act no one can hold more than 75 cottah in urban area in the statecurrently the developers are presently using by making multiple hundreds of companies etc which is cumbersome and not investorfriendlythe president of credai west bengal sushil mohta pointed out that this is the right time to demonstrate some visible change in policy and practice to attract companies that are shifting base from chinaaccording to him all over the world a new policy is being adopted that is china plus one policy major companies in the us germany and japan are either relocating from china or developing additional manufacturing facilities in other countriesthe west bengal government must come out with positive image by bringing needful reforms and engage with those companies and offer them west bengal as an attractive destination for setting up the industries he addedthe letter has also urged for rationalization of circle rates specially for land and quick approval process we are looking at non fiscal measures from the government in the form of quicker approval processautomatic extension of all approvals in line with extension granted by wbhirarelook at urban land ceiling act to make it development friendly and rationalisation of circle rates added nandu belani president credai bengal