Guj to charge Tatas Rs 900 per sq mt for Nano land
Thursday, October 16, 2008 at 4:10 am
The Gujarat government today decided to charge Rs 900 per square meter from Tatas for the 1,100 acre land given for Nano Car Project in Sanand, officials sources said.
The state cabinet meeting chaired by Chief Minister Narendra Modi took this decision on the basis of recommendation of state-level land valuation committee of the Gujarat government.
Tata Group will have to pay Rs 400.65 crore for the 1,100 acres of the land at the rate of Rs 900 per square meter.
The state cabinet has also decided that if the Tatas pay late then they will be charged a compound interest of 8 per cent from the date of allocation of land.
The state government has given 1,100 acres of land near Charodi village in Sanand, on the outskirts of the city, to the Tatas for the relocation of their Nano car project from Singur in West Bengal.
An agreement was signed between the state government and the Tata’s last week for establishment of the project.
(Agencies)
( This post is from an independent writer. The opinions and views expressed herein are those of the author and are not endorsed by APakistanNews.Com.)
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