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A Significant Decision Made By Chief Minister For The Benefit Of The State's Industrialists

A Significant Decision Made By Chief Minister For The Benefit Of The State's Industrialists

Sun, 25 Feb, 2024

Upon the voluntary return of unutilized open plots in the state's GIDC, the plot holders will receive a refund, capped at a maximum of 75% of the allotment price at the time of allotment
 
Approximately 1800 hectares of undeveloped land across various GIDCs in the state will facilitate the establishment of new industries, fostering job creation and economic development 


Gandhinagar, 07 January 2024: Chief Minister Shri Bhupendra Patel has opted for a more lenient policy, to encourage the redevelopment of open plots in different GIDCs across the state, allowing them to be repurposed for industrial use. 

Entrepreneurs aiming to establish industries usually acquire land through leasing in GIDCs. However, there is currently a procedure in place allowing plot holders to voluntarily return plots to GIDC if they are unable to utilize them. In the cases of voluntary return of the plots, the plot holder receives a considerably smaller amount compared to the current allotment value. Due to this, plot holders are not motivated to voluntarily return, resulting in the unused status of the land.

To address this situation positively, Chief Minister Shri Bhupendra Patel has opted to implement a more lenient policy.

Accordingly, in case of voluntary return of such plot, the refund amount will be granted up to a maximum limit of 75 per cent of the difference between the allotment price paid by the plot holder at the time of allotment and the current allotment price of GIDC.

Due to the Chief Minister's decision, about 1800 hectares of unused land in various GIDCs across the state will be available for industrial development. This move is anticipated not only to boost economic growth but also to facilitate job creation.