To Speed Up Industrial Development, Kerala Tweaks Land Regulations
Date
7/27/2024 9:00:16 AM
(MENAFN- IANS) Thiruvananthapuram, July 27 (IANS) To speed up Kerala's industrial development and to give an impetus to investors, the Kerala government has made modifications to the Land Disposal Regulations (LDR) governing industrial land allocation by the Kerala Industrial Infrastructure Development Corporation (KINFRA) and the Kerala State Industrial Development Corporation (KSIDC).
KINFRA and KSIDC have been instrumental in developing industrial infrastructure in Kerala in the past three decades, creating industrial parks and allotting land to prospective entrepreneurs under long-term lease arrangements.
The fresh directives were announced by Industries Minister P. Rajeeve who said these amendments aim to create a more industry-friendly environment, fostering investment and growth in Kerala's industrial sector.
He said recognising the need to modernise these policies in line with best practices, a comprehensive review and revision of the LDR has been undertaken.
“The government of Kerala is confident that these revised regulations will provide a significant boost to industrial development in the state, attracting large-scale investments and fostering a conducive business environment. This will mark a new era of industrial growth in Kerala,” said Rajeeve.
The highlights of the new policy include a change in the lease period from 30 years to 60 years across the board, while for investments of Rs 100 crore and above, land will be allotted for a period not exceeding 90 years.
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