TSIIC cancels land allotment to 225 companies
Hyderabad: Telangana State Industrial Infrastructure Corporation, the nodal agency for land allotment to industries, recently cancelled the land allotted to about 225 companies and has taken back about 1,964 acre allotted to them. The decision was taken as the companies have not set up the industries they had promised. The TSIIC has begun efforts to […]
Hyderabad: Telangana State Industrial Infrastructure Corporation, the nodal agency for land allotment to industries, recently cancelled the land allotted to about 225 companies and has taken back about 1,964 acre allotted to them.
The decision was taken as the companies have not set up the industries they had promised. The TSIIC has begun efforts to allot this land online to other applicants. As per the norms, the companies getting the land should get the required permissions in six months and start production in two years. The ownership rights are allowed only after the production begins. In case of delay, the department gives notice to the concerned and cancels the land allotment.
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