Friday, June 21, 2024
    HomeNationalCentre initiates the sale of properties belonging to 'enemies' for public purchase.

    Centre initiates the sale of properties belonging to ‘enemies’ for public purchase.

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    The Union Home Ministry has initiated the process of evicting and selling enemy properties, which are immovable assets left behind by people who have taken citizenship of Pakistan and China. These enemy properties are estimated to be worth over Rs 1 lakh crore and there are a total of 12,611 establishments in the country that fall under this category. These properties are vested with the Custodian of Enemy Property for India (CEPI), which is an authority created under the Enemy Property Act.

    The Home Ministry has changed the guidelines for disposal of these enemy properties. The process for eviction of enemy properties will now be initiated with the help of the District Magistrate or Deputy Commissioner concerned before the sale of properties. In case of enemy properties valued below Rs 1 crore, the custodian shall offer them for purchase to the occupant first. If the occupant refuses to purchase, then the enemy property shall be disposed of in accordance with the procedure specified in the guidelines.

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    For those enemy properties having a valuation of Rs one crore and below Rs 100 crore, the CEPI shall dispose of them through e-auction or otherwise as decided by the central government and at the rate determined by the Enemy Property Disposal Committee. The Metal Scrap Trade Corporation Limited’s e-auction platform shall be used by the CEPI for e-auctioning of these properties.

    Officials have stated that the government has earned over Rs 3,400 crore from disposal of enemy properties so far, which were mostly movable assets like shares and gold. However, none of the 12,611 immovable enemy properties have been monetized by the government.

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    The Home Ministry has launched a national survey of enemy properties spread across 20 states and three Union Territories to identify and subsequently monetize all such properties.

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    Rajesh M
    Rajesh M
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