After eight years, Wonderla Holidays has received approval and clearance to start an amusement park near Chennai.
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“We have obtained the necessary approval, clearance, and no-objection certificates from the Tamil Nadu government. We did the bhumi puja today [on Wednesday] and have started work,” said Arun K. Chittilappilly, managing director, Wonderla Amusement Parks and Resort. “The project will be completed by June 2025,” he added. The project, which entails an investment of roughly ₹400 crore, will come up on 62 acres at Illalur village in Thiruporur taluk of Chengalpattu district.
GIM 2015 pact
It was part of a memorandum of understanding (MoU) that the company had signed with the government at the first Global Investors Meet (GIM) in 2015. The project did not take off immediately because of the Local Body Tax (LBT). At that time, amusement parks in the State were paying 10% in LBT levied by the State over and above the 18% in the Goods and Services Tax (GST).
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In 2018, the company hinted that it would scrap the project if the State did not withdraw the LBT. After the COVID-19 pandemic, the company resumed talks with the government.
10-year tax holiday
“We have now got a 10-year tax holiday,” Mr. Chittilappilly told The Hindu on the phone.
“This would be a flagship project. A unique one when compared with our other parks,” he added.
In its tourism policy released recently, the State government said single window clearance would be given to tourism projects in the amusement park and theme park space. The policy also mentions that the government envisages creating one large-format amusement park, similar to global theme parks like Disney and Universal Studios, on at least 100 acres on the outskirts of Chennai. The park shall be developed through the participation of the private sector.