PRIVATE COMMERCIAL PARK : SUBSIDY IN ADVANCE

Trivandrum :  Those starting private industrial parks in the state will get government assistance in advance. The change is in the decision to pay the amount only after the development of the park. There are 30 lakhs per unit and the maximum assistance is Rs 3 crores. Apart from private companies, individuals will also be allowed to set up business parks. The government will revise the guidelines incorporating these amendments suggested by the Director of Industries and Commerce.

            30 lakhs per acre is allotted for infrastructure development. The proposal to allocate money in advance is to attract more entrepreneurs. A certain percentage amount will be paid as mobilization advance before the development operation starts. The balance will be paid in advance at each stage. On the first guidelines, the permission to operate the park was given to a Participatory Firm, Company and Co-operative (Charitable) Society. With the approval of the amendment proposal, anyone who owns at least 10 acres can start a park.

            At least 5 acres are enough if you want to build a multi-storied building on the standard factory design model and start industries. Already 21 applications have been received. Field inspection was completed on 12 applications. The 10 applications, excluding those found to have technical issues will be screened by a Secretary’s Departmental Committee on August 5. These will be approved by August 15. This will be examined separately as the Land Reform Act has to be relaxed, although the government introduced the policy in 2017, it was the first private industrial park to be set up in the state after further relaxations were made earlier this year. ( 30 July 2022)

                                                                                                                INPUTS BY – ANJANA Y U ON 29- SEPTEMBER 2022