GIDC will e-auction 16 plots in Varna under new rules
Panaji: Goa Industrial Development Corporation (GIDC) is all set to conduct the first e-auction of prime industrial land under the new simplified auction process.
GIDC plans to lease out 16 plots of land, total measuring 2.3 lakh square metres, through auction for setting up industrial enterprises in Varna Industrial Estate.
The e-auction will be conducted from March 13 to 15 on the NIC e-auction portal.
In December, GIDC notified new land allotment, transfer and sub-lease rules, stating that 20% of industrial plots would be auctioned.
“Bids will be placed only on land premium. The annual lease rent has been fixed at a concessional rate,” said Pravimal Abhishek, managing director of GIDC.
The plot sizes of the land being auctioned range from 1,000 square meters to 42,300 square meters.
GIDC has settled on a ratio of 80:20, where it will charge a higher premium on 20% of the industrial plots in Varna, Sankole and Latambarsam and will auction the plots through a dedicated portal.
GIDC relies on leasing out industrial land to generate income, but to encourage local entrepreneurs, most industrial plots are allotted at a fixed rate. GIDC aims to continue to provide a fixed rate for industrial plots for all 24 industrial estates except 20% industrial plots in Varna, Sankole and Latambarsam.
This strategy is part of the value capture financing model that GIDC intends to explore. The corporation hopes that the money earned through the auction can meet its financial needs.
Goa has liberalized the transfer and sub-lease mechanism, making it easier for businesses to exit. The e-auction is also open for IT companies, logistics firms and warehouses. The state is expected to present a strong investment proposal at the Invest Goa-2024 summit to be held on January 29.
