i Develop Stocks Advisory

MIDC allots plot to REL in Butibori The Maharashtra Industrial Development Corporation (MIDC) has recently alloted plots to industrial houses like Reliance and HCL at its five star industrial estate in Butibori here. Reliance has acquired 175 acres of land for its proposed coal-fired 300 mw power generation plant while HCL, the computer major, has taken 80 acres of land for IT park. Reliance has already selected boundary fencing to earmark the area, official sources told. In a major drive MIDC has taken back possession of 200 industrial plots from buyers who had not taken any initiative to set up industry. By an amendment in rules, MIDC changed the period of seven years alloted to plot buyers to set up their units to five years. It recently reduced it further to three years. There were 384 plots for which the specified period had ended and they failed to come up with industrial units while 93 of them were within the period of three years. Out of the cancellations, MIDC reallotted 175 plots to new buyers. The Butibori MIDC industrial estate, known as five star estate, has a total area of 2385 hectares and a total of 2127 plots. About 1,889 plots including medium and big ones measuring 500 sq mts to 1,000 sq mts and above. Few plots are vacant for residential purposes.