NIMZ in Tumkur: Government says ok
With a view to give the Indian economy a leg up, the Karnataka State government has given its nod to the notified guidelines for NIMZs(national investment and manufacturing zones), to find their existence at Tumkur, Bangalore. To get the ball rolling, the Central government has sanctioned around 9000 acres for the same and an additional 3500 acres is under acquisition.
In a move to promote manufacturing throughout the state, in March 2010 the department for industrial policy and promotion, poured in with the idea to incorporate NIMZs, to increase the share of the agency in gross domestic products from 16% to 25%. The proposed policy is aimed to liberalize all the environmental and labor rules for quick clearance of the units.
NMIZ and City centers: The distance
According to market reports, around 47 companies will make provision for their manufacturing units at the proposed NIMZ, which is located 8km from Tumkur, in the direction of Sira on NH4. The NIMS will be equipped with a number of industrial clusters like auto components, machine tool cluster and aerospace components.
Encompassed by Outer Ring Road and Nice Corridor, the locality offers excellent connectivity and offers trouble-free access to city centers. Furthermore, Magadi Road and NH7 are the two essential routes will help commuters to reach their desired location from their workplace at Tumkur.
Highlights
With the talks of the establishment of NIMZ at Tumkur, a number of companies have proposed to set up a machine tool park in the zone. More than 600 machine tool companies are willing to set up their manufacturing units at NIMZ, which would demand for around 250 acres.
To add to it, around 2000 companies (belonging from the aerospace components sector) in and around the city have shown their active interest to make their presence felt at NIMZ. In addition to the manufacturing unit, the Karnataka State government has also proposed for one more manufacturing unit at Gulbarga and another one at Kolar.
Real estate in Tumkur
The inception of NIMZ at Tumkur is aimed to help the economic growth rate of the country climb the ladder of prosperity with ease. By promoting establishments at Tumkur and required financial assistance, the government has rendered its helping hand and has given huge scope to the real estate market of the area.
Proximity to central hubs of the city has helped the area stand out as a natural extension point for those companies which had to look for different alternatives for their office space due to the large influx of IT related entities in Bangalore. Furthermore, the rising land prices in the city has further carved out Tumkur road as the best possible location for commercial real estate. With the commercialization of Tumkur region, growth of residential units in the vicinity is an open and shut case.
Manufacturing units will evolve as a boon for the country, flooding it with employment opportunities and taking it one step closer to prosperity. To give the manufacturing sector a significant boost, the state government has declared an angel fund, with a primary corpus of Rs 15 crore. The fund will be effectively used by the government to encourage young manufacturers turn unrealized dreams into realty.
