What is in news : India Industrial Land Bank is gaining popularity

What is IILB : One-stop repository of all industrial infrastructure-related information – connectivity, infra, natural resources & terrain, plot-level information on vacant plots, line of activity, and contact details

MAHITI FOR MAINS

• What is Land banking- It is the practice of aggregating parcels or blocks of land at current market rates or lower, for future sale or development.
• Who is a land aggregator: A entity which aggregates land by tracking the geographical and topological locations, which are primed for investment, based on social infrastructure and demographic factors.
• Who engage in land bank : Governments, Enitites, NGO’s, Individuals
• Why is it needed :
  • Quickly turn non-agricultural land into usable parcels
  • Benefit government to identity places where development projects can be taken up