The amendments are aimed at creating a more industry-friendly environment and attracting more investments, said Industries Minister P Rajeeve.
THIRUVANANTHAPURAM: The state government has announced modifications to the land disposal regulations (LDR) governing industrial land allocation by Kerala Industrial Infrastructure Development Corporation (KINFRA) and Kerala State Industrial Development Corporation (KSIDC).
The amendments are aimed at creating a more industry-friendly environment and attracting more investments, said Industries Minister P Rajeeve.
The lease period has been increased from 30 years to 60 years across the board. However, for investments of Rs 100 crore and above, land will be allotted for a period not exceeding 90 years.
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.
An allottee is required to pay 20% of the total lease premium within 30 days from the date of “letter of intimation”. The remaining 80% of the lease premium will be paid in five equal yearly instalments at the prevailing interest rate fixed by the agency.
Previously, 100% of differential lease premium should be paid by the allottees at any time of exit. But now the entrepreneurs can exit and transfer to a prospective entrepreneur with reduced differential payments.
