July 30, 2024: The Kerala state government has modified the land disposal regulations (LDR) for industrial land allocation. The Kerala Industrial Infrastructure Development Corporation (KINFRA) and Kerala State Industrial Development Corporation (KSIDC) grants these lands.
As per the modifications, the Kerala government has increased the lease period from 30 years to 60 years. But, for investments of Rs 100 crore and above, the industrial land will be allotted for not more than 90 years, an official statement mentioned. With these changes in place, the government is looking at creating a more investment friendly environment in the state.
As per media reports, under the new policy, for logistics activities and sub-leasing of warehouse facilities, the original allottees may sublease the built-up space constructed by them to another operator provided the period of sublease shall not exceed the period of the original lease period.
Also, with the new modifications in effect, an allottee has to pay 20% of the total lease premium within 30 days from the date of “letter of intimation”. The balance 80% of the lease premium has to be paid in five equal yearly instalments at the prevailing interest rate that will be fixed.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
