Signing of the lease deed and the registration of land


The stage is set for the Kochi SmartCity project. The SmartCity officials are arriving in Kerala tomorrow to sign the lease agreement and the registration of land.

UPDATE: SmartCity Kochi Infrastructure Pvt Ltd director board meeting mentioned in this post was postponed due to the inconvenience of Tecom representatives to attend the meeting.

Kerala government and TECOM Investments agreed last week to proceed with the Kochi SmartCity project. According to the draft signed by both the parties, TECOM Investments will prepare the master plan for Kochi SmartCity project within 30 days from Feb 2.

Officials from TECOM Investments are expected to arrive in Kerala on 15 Feb 2011. TECOM Investments have reviewed the lease deed for SmartCity project and they are coming prepared to sign the documents, which was originally prepared by Government of Kerala.

There are 2 separate lease deeds to be signed: one for 131 acres of land for which SEZ status was already received and another one for 115 acres of land for which SEZ approval is expected later. As agreed between government of Kerala and TECOM Investments, government will provide registration and stamp duty exemption for the land registration and lease deed.

After signing all the lease deed and documents, the documents will be sent for SEZ approval for the rest of the land. SEZ status is expected within 4 weeks and the construction will start soon after the SEZ approval for the land.

The board meeting of SmartCity Kochi Infrastructure Pvt Ltd is scheduled to be held tomorrow (16 Feb 2010). The board meeting will review the status of the master plan being prepared by TECOM Investments.


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