50% Subsidy on Industrial Sheds

Develop readymade sheds & Get 50% subsidy on total cost of land, building and other infrastructure facilities like developed Plot, internal roads, water distribution facilities, power distribution and such other Facilities/ services as may be required developed for the establishment of MSEs to Manufacture any product.

Under Gujarat Industrial Policy, 2015 Scheme for Financial Assistance to developing readymade sheds in Mini Estate, By Private Developer has been introduced for five years from 10/03/2015 to promote and encourage Mini Estate by Private Institutions which aim at upgrading and improving state infrastructure and to boost economic activity and employment generation.

Mini Estate:

Mini Estate means an industrial estate having basic infrastructure facilities like developed Plot, internal roads, water distribution facilities, power distribution and such other Facilities/ services as may be required developed for the establishment of MSEs to Manufacture any product.

Size of Project and Time limit for Completion

The size of the shed shall be around 50 Sq.Mts. (500 Sq.fts.) The size of the mini estate shall not be more than 2 Hectare If the developer does not find any buyer for vacant shed, the same can be disposed after the period of two years from the date of allotment to first MSE allotted or the completion of infrastructure facilities whichever is later. With prior Approval of industries  commissioner.

 

Infrastructure Facilities:

Infrastructure Facilities mean bare minimum facilities required to set up MSEs and
approved by implementation committee.

  1. Asphalt Road/ Cement Concrete Road.
  2. Storm Water Drainage System.
  3. Domestic Sewerage Collection, treatment and Disposal System.
  4. Streetlights.
  5. Open & Green Spaces.
  6. Water & Power Supply & distribution network at door setup of the shed.
  7. Pipe- racks
  8. Steam.
  9. Connectivity for communication

Necessary documents:

(1) In-principle approval of the Mini Estate.

  • Application in prescribed format.
  • Constitution of Applicant Company/Institution.
  • Project Report.
  • Annual Report of the promoter Company/Institution.
  • Copy of Acknowledgement under Mini Estate Scheme
  • Layout plan of Estate.
  • Village Map of the proposed land showing Survey numbers Copy of Registration under Industry association/industrial house or Institution registered under Private sector undertaking / Cooperative undertaking / Societies Act. / Partnership Act / Companies Act / Trust Act
  • Other documents as specified in application form and checklist.

(2) Final approval

  • Detailed Expenditure statements with C.A. Certificate.
  • Approved Civil Engineer Certificate.
  • GPCB/MoEF Clearance, if required.
  • Project Completion Certificate

Procedure for sanction of assistance:

(1) In-principle approval:

  • Scrutiny of application submitted in prescribed format as per checklist
  • Developer is to be called for presentation after receipt of application.
  • Agenda will be put up for approval of State Level Empowered Committee after presentation if finds eligible
  • In-principle approval letter to be issued within 15 days from the date of approval.
  • After completion of industrial park Benefit of the stamp duty and other reimbursement after approval by the SLEC, and as per availability of government grant.

(2) Reimbursement:

The assistance under the scheme shall be disbursed to private developer @25 % of the cost of Shed as per the sale of individual Shed and after the Commencement of the production by MSEs; the remaining assistance would be given to private developer.

For more detail Contact us: +91 7203010101 or Inquiry on Get Started @ www.adroitcorporation.in

Rajesh is a Founder and MD of Adroit Corporation Pvt Ltd, Rajkot. His area of expertise is a Income Tax, VAT, Service Tax and Financial Planning. Apart from his passion for Project Finance, he also holds an avid interest in Reading, Technology & Politics.

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