Amid massive criticism, the Gujarat Industrial Development Corporation (GIDC) has increased the plot allotment prices in Ahmedabad by 15 percent, applicable w.e.f April 1, 2021.
Contrary to the expectations of the stalwarts, the Gujarat Industrial Development Corporation (GIDC) has recently announced a 15 percent increase in the allotment price of plots at industrial estates. The revised rates shall be applicable from April 1, 2021, on all allotments, transfers, and non-utilisation penalties.
As per the sources, the price of a plot at Sanand Industrial Estate II has been revised from Rs 3,780 per sq m to Rs 4,160 sq m. Similarly, the new rates in Gandhinagar and Dahej are Rs 7,020 per sq m and Rs 2,240 per sq m, respectively. In Halol and Saykha, the revised rates are Rs 2,110 per sq m and Rs 2,420 per sq m.
The decision has garnered immense criticism from industry players and various representations have been made to review the decision on the basis of the current market situation. Further, requests have been made to defer the decision by another year as this might hamper growth and lead to delayed investment decisions. As opined by Ajit Shah, President, Sanand Industries Association (SIA), the move might not limit the possibility of fresh investments in areas such as Sanand where only 30 percent land has been utilised so far.