Land is available on long lease
Total Allotable Land – 49.76 acres
Balance Allotable Land Available – 11.45 acres
Rate (One-time Lease Premium)
Land is available against payment of one time land lease premium.
The one-time payment can be made in installments. Part of the payment of land lease premium may be made on deferred basis after a period of 5 years.
Rates in the following slabs:
First 24.90 acres (up to 50% payment) - Rs 58.53 Lakhs/Acre (CURRENT RATE)
Next 17.40 acres - Rs 70.26 Lakhs/Acre
Balance 7.46 acres - Rs 84.28 Lakhs/Acre
Lease for 30 Year Period
Can be renewed for further periods of 30 years up to a maximum of 90 years at no additional cost.
Common facilities like conference room, canteen, ATMs etc
Single Window Clearance Board for statutory approvals and clearances.
Easier availability of support from ancillary units.
Land can be mortgaged to banks based on a tripartite agreement between Bank, KINFRA and Lessee (after payment of total amount of lease premium)
PROCEDURE FOR LAND ALLOTMENT
Interested Applicants To submit an application in prescribed format ‘Form A’, (including Detailed Project Report) with extent of land and utilities required. Also to remit the Rs 5000.00 as registration fees (taxes extra). The application would be placed before the District Industrial Land Allotment Committee (DILAC), Palakkad District for initial approval.
KINFRA Will issue an Intimation Letter (Form B) to the applicant after approval of the application by DILAC, Palakkad District.
Applicant To remit 10% of the land lease premium (as EMD) within 30 days [non-refundable in case the applicant wishes to discontinue from proceeding with the project]. Also to submit Form C along with EMD
KINFRA Will issue an Allotment Letter (Form D) to the applicant.
Applicant To remit 40% of the land lease premium within 30 days.
Applicant To enter into a License Agreement (Form E) with KINFRA.
KINFRA Will hand over land to applicant for a period of two years under License Agreement.
Applicant To complete the construction of the unit within a period of two years and start commercial operations.
Applicant Payment of balance amount (50%) can be made on deferred basis after a period of 5 years (without interest, taxes extra). However, the payment of balance amount shall carry interest beyond the period of 5 years.
Applicant To execute Lease Deed (Form F) once the unit is ready for commercial production for a period of 25 years (Lease Deeds are exempted from stamp duty and registration).