Tamil Nadu Chief Minister MK Stalin has said that the CIDCO will reduce the prices of business premises as entrepreneurs recover from the stagnation due to the Corona epidemic.
The Government is taking various steps to make Tamil Nadu the leading state in India in terms of industrial development. Special efforts are being made to promote the micro, small and medium enterprises which are the foundation of the industrial development of the State.
As part of this, the government has issued a memorandum of understanding (MoU) to reduce the price of CIDCO factories, a long-standing demand of Tamil Nadu micro, small and medium enterprise associations, and to pave the way for entrepreneurs to recover from the stagnation caused by the Kovit-19 epidemic.
History of Sitko
Accordingly, for the first time in the history of Tamil Nadu CIDCO, which has been providing its services for over 50 years, it has significantly reduced the valuation of industrial estates which have not been allotted for many years due to high cost of factories. As the cost of business has been significantly reduced, the value of real estate in various industries has fallen to the level that entrepreneurs can easily afford. For example, in Uthangarai industrial area Rs. 1,19,79,000 / – 75 per cent reduction of Rs. 30,81,200 / – per acre, in Kumbakonam Rs. 85,35,800 / – about 65% off Rs.
Industry
In addition, the Coimbatore district mark has been reduced from Rs 9.0 crore to Rs 4.8 crore per acre from the current land value of Rs 4.2 crore per acre.
4.8 crore to Rs. 2.8 crore in Vinnamangalam and Rs. 2 crore in Chengalpattu district, Rs. 6 crore to Rs. 3.5 crore in Alathur and Rs.
In the Erode industrial area it has been reduced by Rs 2.4 crore from Rs 6.4 crore to Rs 3.8 crore.
How is the value of the land?
Due to high prices, fewer plots of land have been allotted for many years and the land value of Karaikudi, Pitaneri, Rajapalayam industrial estates with more than 400 vacant factories ranges from 30% to 54% and
The land value of Virudhunagar, Arakkonam and Bargur industrial estates has been reduced from 40% to 50% and the value of 19 industrial estates has been reduced by about 5% to 25%.
Only land value
Not only that, but the existing valuation of 12 industrial estates in 2016-2017 has been extended to the current one. In particular, the current practice for Ambattur and Thirumalisai industrial estates is Rs. 43,86,16,300 / – per acre respectively.
13,41,09,300 / – instead of Rs. 25,07,79,100 / – for the year 2016-2017 and Rs. 7,66,77,400 / – for the year 2020-2024.
Businesses
These measures have paved the way for the creation of industrial estates as micro, small and medium entrepreneurs can get land at low cost and start businesses. I kindly request you to take advantage of this opportunity by allocating small, medium and micro entrepreneurships. Thus Chief Stalin stated in his statement.
