In order to encourage small businesses, the Gujarat Government on Wednesday announced 50 per cent reduction in price of industrial plots owned by Gujarat Industrial Development Corporation (GIDC).
The decision was taken in the weekly Cabinet meeting of Vijay Rupani Government. The plots to be allocated under the GIDC industrial estates having a size of up to 3,000 square meters will be charged 50 per cent less than its original cost, said Deputy Chief Minister Nitin Patel adding that the plots higher than 3000 sq mt will be sold at normal rates.
According to Patel the decision is aimed at creating employment through entrepreneurship and supporting small and medium businesses by providing cheaper plots in the industrial estates. The initiative would help developing ancillary industries in the State, he added.
GIDC is the nodal agency to develop industrial estates in the State and facilitate industrial development. The state government sells industrial land to GIDC, which develops the estates, makes the plotting and sells the plots to the industries. As per the current practice, in some cases, GIDC had to pay more prices for the land due to higher market prices. This resulted into costlier plots for the small businesses.