The state government on February 14, declared a whole lot of incentives to draw private lineup to procure and evolve small portions of plots on the lines of cohesive industrial area policy. The state cabinet on sanctioned quite a few transformations to the 2013 policy to make it more profitable.

As part of the changes, the Floor Space Index (FSI) for such schemes has been increased by two times.

A 50% stamp duty ease has been provided and government plot can be procured to make it an adjacent land packet. The policy was basically created for small and medium ventures to perform in planned industrial areas.

Functionaries stated that the policy has not been attracting adequate reaction, in comparison to other states. Gujarat, Tamil Nadu and Karnataka are receiving an improved response as their grants are better.

The prerequisite to establish an amalgamated industrial area has been decreased from 40 hectares to 20 hectares with respect to hurdles in acquiring land and augmenting lack of land within the state.

The regions will get clear admittance to power and will be brought within the ambit of the Open Access Regulation, 2013. Within the law, customers in pursuit of electricity above one megawatt can get extra power from the energy provider via free access.

The state cabinet has permitted the private player to hold back 80% of the total area as industrial and 20% for other intents; previously it was 60% and 40% respectively.

The strategy centers on furtherance of micro, small, medium scale (MSME) enterprises in the state. The state government has authorized Khed special economic zone to now be formulated into a unified industrial area. Last week, the state government had given sanction for development of Navi Mumbai Special Economic Zone as an industrial city.

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