SIPCOT will form Joint Venture in Tamil Nadu for Industrial Park with land owners

SIPCOT will form Joint Venture in Tamil Nadu for Industrial Park with land owners

SIPCOT, Tamil Nadu to Develop Industrial Estates in Tamil nadu with Private Landowners. The Tamil Nadu government is innovating to meet the growing demand for industrial land. SIPCOT will form a Joint Venture in Tamil Nadu for an Industrial Park with Private land owners.

Here’s a summary:

• Joint Ventures with Private Landowners:

  • Sipcot (State Industries Promotion Corporation of Tamil Nadu) can now partner with private landowners holding a minimum of 100 acres.
  • This aims to address land acquisition issues and rising real estate costs.
  • Sipcot will hold a 2-11% stake in these joint ventures.

• Benefits for Landowners:

  • Potential to develop their land and benefit from industrial growth.

• Benefits for Investors:

  • Increased availability of industrial land.
  • Existing benefits (like 50% stamp duty exemption) extended to these joint venture estates.

• Focus Areas:

  • Optimizing existing industrial clusters (e.g., Chennai).
  • Balanced industrial development across the state.

• Sipcot’s Expansion Plans:

  • New industrial estates and townships in various locations (Hosur, Manallur, Thindivanam, etc.)
  • Five food parks across the state (each on 150-200 acres)

• Initiatives for Existing Units:

  • Permission to set up “plug & play” industrial sheds and warehouses on their unutilized land.
  • Reduced sub-leasing charges to encourage land utilization.

This move by the Tamil Nadu government is expected to improve industrial land availability and attract new investors to the state.

 

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