DMIC townshipGreater Noida’s Integrated Industrial Township (IIT) has revised its allotment rates owing to its land disposal policy. Integrated Industrial Township comes under the Delhi-Mumbai Industrial Corridor. This important decision was taken by the board in the board meeting conducted in Greater Noida. Along with analyzing the progress of the township in terms of physical and financial matters, the board has also agreed to offer a special plan to the first investor.

As per the sources of Greater Noida industrial development authority (GNIDA), a reduction of almost 27% is done on the lowest slab for plot size larger than 40000 square meters. This is done for the industrial allotment of land in the 335 hectare township. Pertaining to the decrease, the revised rates of land allotment will go down to Rs.5100 instead of the current land allotment rate of Rs.7000 per square meter in this slab. The revised land rates in Greater Noida’s IIT are made attractive for the investor as well as the industrialists, to promote and encourage industry.

The decision to lure the first investor by giving him an incentive in the form of a concession of 20%, in the land allotment rate for industrial plots, has also been approved by the board.

But this availing of rebate will be applicable only if the construction is started quickly.

Shapoorji Pallonji, who is a Mumbai-based developer, has been asked to finish the Delhi-

Mumbai Industrial Corridor project in two years. Since the location of the township is in the investment region of Dadri-Noida-Ghaziabad, it is likely to provide employment opportunities to many workers.