Hyderabad: Govt to offer more sops to firms under HILT Policy

Hyderabad: Following a lukewarm response to the HILT Policy from industrial units, the state government is set to announce sops to firms that are ready to shift their manufacturing units outside the Outer Ring Road (ORR). With the deadline for submission of applications being October 31, the state government proposes to invite the managements of these units and offer them some incentives for relocation of their units.

The Hyderabad Industrial Lands Transformation (HILT) Policy, aimed at shifting all pollution emitting industries in the ORR limits to locations outside Hyderabad, saw few takers despite the state government offering incentives in the registration charges and permission to convert the industrial lands into multi development zones. Under the HILT Policy, the state government targets to convert 9,292 acres in 22 industrial estates owned by 2,800 manufacturing and industrial units into multi use zones, mainly residential colonies. However, not more than 120 companies expressed their interest to relocate their factories. As a result, the state government extended the last date to file applications to October end.

Officials of the state Industries Department said that the land prices at Balanagar, Moulali, Nagaram , Jeedimetla, Sanath Nagar, Cherlapally, Uppal, Kukatpally, and Katedan industrial estates were skyrocketing. The managements of units in these locations were apprehensive about the sale of their lands after the shifting of the manufacturing units.

The state government is planning to hold a meeting between Industry management, Stamps & Registration Department and some reputed realty companies to discuss the present demand for residential and commercial buildings around the industrial estates.

“The managements have the right to seek some more incentives and the same are being considered if they are viable and good for generating revenues to the state exchequer”, officials said, adding that the recent growth in the realty sector and increasing property registrations would be showcased in the meeting with the industry .

During the last meeting, the managements of industrial units raised numerous doubts on the availability of land to relocate the factories outside the ORR at an affordable price. The prospects of the development the of Future City and global investment flows in the proposed greenfield city would also be discussed and the managements convinced.

Before the second Global Investment Summit in December, officials said, the government intends to shift at least 50 per cent of the companies outside the ORR, which will also be a game changer to fast-track the development of the Future City with huge investment flows expected next year.

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The Hans India