Jammu and Kashmir witnessed a significant rise in land purchases from outsiders over the last couple of years since the erstwhile state witnessed changes in land laws post-abrogation of Article 370.
According to MoS Home Nityanand Rai, 185 individuals from outside the Union Territory have purchased land in Jammu and Kashmir since 2020, while no outsider has purchased land in the Union Territory of Ladakh.
The minister also shared that only one person purchased land in Jammu and Kashmir in 2020, while 57 and 127 individuals did so in 2021 and 2022, respectively.
In addition, 1,559 Indian companies, including multinational corporations, have invested in the Union Territory since 2020.
Between 2020-2021, 310 companies invested, followed by 175 companies between 2021-2022, and 1,074 companies between 2022-2023.
These changes in land laws in Jammu and Kashmir and Ladakh have allowed non-state residents to own property in the Union Territory and transfer agricultural land for non-agricultural purposes, with the necessary government permit.
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