LUCKNOW: The state cabinet on Tuesday approved the Multi-Modal Logistics Park Policy-2024 that will allow companies investing in this sector to receive upfront land subsidies and various other concessions from the govt.
Officials said a company establishing a multi-modal logistics park will be given a 30% upfront land subsidy on plots leased by industrial development authorities or any state govt agency.
They said if an investor does not commence operations within the eligible investment period, the govt agency will recover the subsidy with 12% interest. Such applicants will be exempt from all internal development charges.
They added that such companies will also receive a 100% exemption on stamp duty. Projects benefiting from this policy will not receive incentives under any other state govt policy or scheme.
However, before granting exemptions under the policy, opinions must be sought from the finance, law, institutional finance, housing and urban planning, revenue, stamp and registration, state tax, planning, energy and home departments.
Source Homevior.in
