Tamil Nadu Govt cuts land prices at SIDCO industrial estates to encourage MSMEs set up units

Chennai, 8 Dec (KNN) In efforts to support MSMEs, the Tamil Nadu government on Tuesday slashed prices of plots inside the SIDCO industrial estates to help the small business in their recovery from the impact of the pandemic.

MSME associations have also been making the for a cut in prices of industrial plots, as published in Hindu BusinessLine.

Chief Minister of Tamil Nadu, MK Stalin said, due to high prices of land inside of SIDCO, there have been no. Hence, with the price reduction it is expected to be attractive for MSME units that have been planning to set up units.

In Uthangarai SIDCO Industrial estate, Krishnagiri district, the price has been reduced to INR 30,81,200 per acre from INR 119,79,000; at Kumbakonam Industrial Estate it is dow to INR 81,89,300 from INR 3,04,92,000; Nagapattinam INR 85,35,800 from INR 239,71,500; in Kurichi Industrial Estate, Coimbatore District, it is now INR 4.2 crore from INR 9 crore earlier; and at Winnamangalam Industrial Estate in Tirupathur District INR 2 crore from INR 4 crore.

The land price at Alathur Estate in Chengalpattu District has been reduced to INR 3.5 crore per acre from INR 6 crore; and at Erode Industrial Estate it is INR 3.8 crore per acre, against INR 6.4 crore earlier.

Also, prices of industrial plots at Karaikudi, Pidaneri (Thoothukudi District) and Rajapalayam have been reduced in the range of 30-54 per cent as a significant portion of plots in these estates have been lying vacant for years citing high prices.

For about 12 industrial estates including those at Ambattur and Thirumazhisai, prices for the industrial plots have been fixed at 2016-17 rates. For eg, per acre cost has been fixed at INR 25.07 crore at Ambattur against the current market price of INR 43.86 crore and at INR 7,67 crore at Thirumazhisai against a market price of INR 13.41 crore.

This initiative in price cut is expected to help MSMEs to set up shop at a lower price, while the sole objective of setting up such industrial estates to promote MSME units is also fulfilled.