Tamil Nadu announces steep cut in SIDCO estate land cost

“COVID-19 has resulted in stagnation of industrial development and MSMEs suffered the worst during the pandemic. As part of a significant measure to ease battered industries and MSMEs and to dispose unsold lands, the price of lands in SIDCO estate is being reduced drastically. This move will play a key role in Tamil Nadu attaining the goal of numero uno position in industrial development in the country,” said Chief Minister MK Stalin, in a press communique.

For instance, the price of an acre of land in SIDCO estate, Uthangarai, has been reduced from Rs 1.19 crore to Rs 30.8 lakh. Similarly, in SIDCO estate in Kumbakonam, the rate of land has been reduced from Rs 3.04 crore to Rs 81.89 lakh which works to 73 per cent reduction. To sell unsold 400 plots in SIDCO complex in Pidaneri Rajapalayam village near Karaikudi in Sivaganga district, the rate of the land has been reduced from 30 to 54 per cent. In SIDCO complexes in Virudhunagar, Arakkonam and Bargur, the rate of land has been reduced by 40 to 50 percent.

Similarly, in Ambattur and Thirumazhisai the rate of land has been revised to rates that prevailed in 2016-17. The rate of an acre of land in Ambattur SIDCO has been reduced from Rs 43.86 crore to Rs 25.07 crore and in Thirumazhisai the rate has been reduced from Rs 13.41 crore to Rs 7.66 crore.

SIDCO is maintaining 41 Government Industrial Estates and 80 Industrial Estates established on its own in Tamil Nadu.