Prices of industrial plots halved by Gujarat Government

The Gujarat government announced 50 per cent cut in prices of plots of up to 3,000 square metres offered by the Gujarat Industrial Development Corporation (GIDC). The motto is to boost small and medium industries in the state. This decision was taken at a Cabinet meeting. The state government sells industrial land to GIDC to develop industrial estates in the state and facilitate industrial development. In some cases in the past due to higher market rates, the GIDC had to pay more for land. The decision will help in developing ancillary industries in the state. All other plots with bigger sizes will continue to be of the same cost as earlier.