the goan I network
PANAJI
Sources have informed that Goa Industrial Development Corporation (GIDC) has given its approval for around 90 sub-lease, transfer applications for plots in industrial estates since February this year.
In February, GIDC had brought in a very important amendment, which said that an application for sub-lease and transfer of industrial plots would be deemed approved if an applicant doesn’t hear from GIDC within 21 days of sending the application.
In simple words, GIDC now has to mandatorily decide within 21 days whether it wants to approve or reject an application for sub-lease and transfer of an industrial plot. This regulation has resulted in GIDC quickly deciding upon sub-lease, transfer applications within 21 days.
Sandip Bhandare, president, Goa Chamber of Commerce and Industry (GCCI), said, “Ninety applications cleared is a fairly good number. Due to this, if an industrialist wants to set up a small unit in the state with one or two workers, he can easily get a plot through sub-lease.”
A number of factories in the industrial estates have more area than they need. Such industries can sub-lease a part of their plot to anyone willing to set up his unit. Therefore, quick approvals of sub-lease applications will help businessmen in quickly getting industrial space in the state.
Moreover, GIDC had sometime back also liberalized the sub-lease rent. Due to that, sub-lease rent now is a function of only the actual area of the plot sub-leased. Not only has sub-lease become cheaper, but it has also become quicker.
Meanwhile, it was further informed that GIDC has given its approval to 13 industries to increase the floor-area-ratio (FAR) beyond 100%. GIDC had increased the maximum permissible FAR for units in industrial estates from 100% to 150% in January this year.
The fact that 13 industries have already got approval to build more than 100% FAR means that they are going to add additional built-up space on their existing plots. In other words, such industries wouldn’t need fresh plots for expansion, at least for the time being.
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