Chief Minister M.K. Stalin on Tuesday announced reduction in the prices of plots in SIDCO industrial estates, by 5%-75%, depending on the industrial estate.
He said prices had skyrocketed over the years, leading to plots remaining unsold.
An official statement said when the DMK had come to power, several micro, small and medium entreprises’ associations had requested the State to reduce the prices of plots in SIDCO industrial estates to help entrepreneurs come out of the difficulties caused by COVID-19.
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The government said it was reducing the rates of plots in the industrial estates for the first time in 50 years, as many remained vacant without allotment.
The government has now made it affordable for entrepreneurs and business persons to buy plots in various SIDCO industrial estates, the statement said.
An acre in the Uthangarai Industrial Estate, which was priced at ₹1.19 crore, is now available at ₹30.81 lakh, after a 75% reduction. At Kumbakonam, the price has been brought down from ₹3.04 crore an acre to 81.98 lakh an acre, following a 73% reduction, and at Nagapattinam, from ₹2.39 crore to ₹85.35 lakh, after a 65% reduction.
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At Kurichi in Coimbatore district, the price of an acre at the SIDCO industrial estate has been reduced from ₹9 crore to ₹4.2 crore, at Vinnamangalam in Tirupattur district from ₹4.8 crore to ₹2 crore, at Alathur in Chengalpattu district from ₹6 crore to ₹3.5 crore and in Erode from ₹6.4 crore to ₹3.8 crore.
At industrial estates in Karaikudi, Pidaneri and Rajapalayam, where over 400 plots remain vacant due to high prices, the prices have been reduced by 30%-54%, while Virudhunagar, Arakkonam and Bargur are seeing a price reduction by 40%-50%. In 19 other estates, prices have been reduced by 5%-25%. Apart from this, the government has retained the prices prevailing in 2016-17 in 12 industrial estates, including the ones in Ambattur and Tirumazhisai.