8806029400
Govt reduces sub-lease charges of
industrial plots by a huge margin
PANAJI
In a major relief to industries, the state government has recently reduced the sub-lease charges of industrial plots by a huge margin. This was a long-standing demand of industrial sector because sub-lease charges were prohibitive making it very tough for industries to get land in Goa.
Till recently, the sub-lease charges payable to Goa Industrial Development Corporation (GIDC) were considered on total area of industrial plot. Now, the government has made these charges only of that area, which has been given on a sub-lease.
Consider this example. Suppose an industrialist has a 1,000 square meter plot in Verna Industrial Estate and on that he has built 300 square meters of structure. The price of industrial land in Verna is Rs 2,200 per square meter.
Suppose, this industrialist wants to give 100 square meters of the built-up structure as a sub-lease. The rules, till recently, had it that the person taking the sub-lease will pay to GIDC Rs 1,32,000 in sub-lease charges (Rs 2,200 per square meter multiplied by 1,000 square meter multiplied by 6%).
Now, the rules have been amended, wherein the person will pay charges only on the area of the structure he wants to take on a sub-lease. As per the new rules, he will pay Rs 17,600 as sub-lease charges (Rs 2,200 per square meter multiplied by 100 square meter multiplied by 8%).
In this case, sub-lease charges have come down by a huge 87%. A number of budding entrepreneurs are willing to take a small part of an industrial plot on a sub-lease, but high charges used to make it impossible for them. All that has been changed now with the latest amendment.
Giving further boost to new entrepreneurs, the state government has also made a rule to reserve 20% of the area in industrial estates for the first time entrepreneurs.
Till now, the state government used to give more priority to those businessmen, who already have an existing unit in Goa. This would make it tough for new businessmen to enter the state. Now, this problem also has been taken care of.
Sources also revealed that the government has made the process of plot-transfer in industrial estate easier too.
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Open space in industrial estate likely to be cut to 10%
• The government has also sought to reduce open space in industrial estates to 10% from existing 15%
• These are part of draft regulations, which were published in official gazette last week
• The government has given people 30 days to send objections to this change to the chief town planner
• This is going to release a lot of industrial land, which will make it easier for fresh industrial applicants to get land in Goa
