To support MSMEs, Tamil Nadu slashes prices of land at government industrial estates

Our Bureau | | Updated on: Dec 07, 2021
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‘Will fulfil the sole objective of setting up such industrial estates to promote MSME units’

The Tamil Nadu government on Tuesday slashed prices of plots inside the SIDCO industrial estates to support MSMEs that are recovering from the impact of the pandemic.

MSME associations have also been making the for a cut in prices of industrial plots.

Due to high prices, there have been no takers for land inside many of the SIDCO. The present price reduction is expected to be attractive for MSME units that have been planning to set up units, said an official statement quoting Chief Minister MK Stalin.

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

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

Chennai suburbs

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 ₹25.07 crore at Ambattur against the current market price of ₹43.86 crore and at ₹7,67 crore at Thirumazhisai against a market price of ₹13.41 crore.

The proposed price cut will 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, it said.

Published on December 07, 2021

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