LAND ALLOTMENT DETAILS
Details of Land allotted
||Phase I Total Area of the Park -70 Acres (developed) in possession out of 75 Acres
||Phase-II Developed area -86 Acres (under development) in possession out of 123 Acres
||Allottable Developed area (Phase I)- 56 Acres
||Developed area Allotted (Phase I)- 23.50 Acres (Including earmarked land of 9 acres for Medical Devices Park, 4.28 Acres for Innovation Cum Incubation Centre)
||Phase-II area to be developed – 86 Acres
||No. of units/institutions -6 Units
||No. of units/institutions operational -2 Units
LAND ALLOTMENT GUIDELINES INCLUDING PRICING
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 allotement letter will be issued, detailing about the lease premium payable and other terms and condi tions of plot allotment. The allottee is required to pay the prescribed lease premium, minimum 50%, within 90 days from the date of allotment
- The lease period is for thirty 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 28 years (Nominal annual lease rent is payable for this period).
- The lease premium of land at Life Sciences Park 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 l lakhs
- 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.
- "Application for Registration for allotment of Plots" in the prescribed form, (Form – A in Downloads given below ) duly filled in, along with a covering letter addressed to