Yes this is definitely a good thing, because most banks and financial institutions would not be ready sponsor any new business for a period of just 30 years. Now the companies don’t have to spend a bunch of money in buying land for their businesses, they can just lease the land and instead invest the money in propagating their business. The good thing is that there are going to be some serious laws incorporated in this allotment scene, which will prohibit the construction of marriage halls or other those kinds of buildings on these grounds.

Arun Rajan, Mysore

29th August 2014

Comment

Btw, this land is only for new business owners and entrepreneurs. The Cabinet decided not to give absolute sale deeds of lands to these industries, because earlier most of these companies ended up selling the land that was allotted to them for purely industrial purposes. The government didn’t want more KIADB land going into other states and so they decided that they are just going to lease out the land from now on. That ways it will stay in the ownership of the state and entrepreneurs will be profiting from it as well.

manish shetty, Mysore

28th August 2014

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I had heard that the government had allotted KIADB land to entrepreneurs and small businesses for a lease period of 30 years initially. But that was too short a lease period, and no one seemed to be interested for it. So just last Wednesday the Cabinet has increased it to 99 years hoping to find more takers among the entrepreneurs. I think that its a good deal for the city’s new entrepreneurs as now they will have more scope to expand their business without having to worry about the land issues.

Deepesh Gowda, Mysore

28th August 2014

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