Tatas to get Nano land at Rs.900 per sq metre

October 15th, 2008 - 11:38 pm ICT by IANS  

Narendra ModiGandhinagar, Oct 15 (IANS) The Gujarat government has decided to charge the market price, Rs.900 per square metre, for the land Tata Motors is acquiring for the Nano car project.”It has been decided to offer the land at Rs.900 per square metre for the 1,100 acre land that works out to Rs.400-odd crore (Rs.4 billion),” Health Minister and government spokesperson Jaynarayan Vyas told IANS Wednesday.

He said the decision was taken at a cabinet meeting chaired by Chief Minister Narendra Modi on the basis of the recommendation of a land valuation committee of the state government.

The cabinet also decided compound interest at eight percent would be levied from the date of allocation of land at Charodi village in Sanand taluka if the Tatas delay their payment.

–Indo-Asian News Service

VN Balakrishna
B-11 Suvas Apt, Opp Jeevandeep Row House
Drive in Road
Ph: 09427109925/079-26856051

Tags: , , , , , , , , ,

Posted in Business |