Land Details

Modalities of allotting plots in the Life Sciences Park:

• The applicant shall submit "Application for Registration for allotment of Plots" in the prescribed form, duly filled in along with detailed project report and processing fee of Rs. 10,000 plus applicable service tax.
• On scrutiny of the particulars furnished and if found eligible, an allotment letter will be issued, detailing about the lease premium payable and other terms and conditions of plot allotment. The allottee is required to pay the prescribed lease premium, as per the Unified Industrial Land/Building regulations for KINFRA and KSIDC 2024 Click here to download.
• The lease period is for Sixty years out of which the initial two years is Licence period. After paying the Lease premium, a Licence agreement will be executed thereafter the allottee will be permitted to enter in to the plot to commence construction activities.
• After paying the lease premium in full and after completing the project implementation (within the licence period of two years), the allottee shall be entitled to get a lease on the property for the remaining 58 years (Nominal annual lease rent is payable for this period).
• The lease premium of land at Life Sciences Park in Phase I is Rs.373.70 lakhs per acre plus GST as applicable. Govt of Kerala have approved early bird scheme by which land lease premium is reduced by 50% and therefore, the effective lease premium of land would be Rs 186.85 lakhs in phase I of the Park.
• The lease premium of land at Life Sciences Park in Phase II is Rs. 484 lakhs per acre
• The allottee is permitted to mortgage the lease right on the plot for availing financial assistance from banks. During Licence period a tripartite agreement may be signed for this purpose.