Kochi Smart City Project - Latest Updates - 30 Jan 2011
The Kerala state government reached an understanding with the Dubai-based promoters of the Kochi SmartCity project, TECOM to allow freehold rights over 12 percent of the land earmarked for the project. This is definitely a good sign for the much-delayed Smart City Project. However the specified land will be in the Special Economic Zone.
There are reports that Tecom has informally agreed for freehold land within the SEZ, as a result of deliberations by NRK businessman M A Yusuf Ali with the officials of the Dubai Supreme Fiscal Committee. The final decision will be taken on February 2 at a meeting to be held between Chief Minister V S Achuthanandan and Supreme Fiscal Committee member of the Dubai Government Ahmad Humaid Al Tayer.
Earlier, the Dream of Keralites have been held up over the demand by Dubai-based TECOM for freehold of over 12 percent of the land earmarked for the project, which comes to about 30 acres. The State Government had issued repeated ultimatums to Tecom to proceed with the project. But they were still sticking to the demand for freehold over land outside the SEZ limits. Chief Minister V S Achuthanandan had even openly alleged agaisnt Tecom. The chief minister alleged that Tecom as trying to carry out a real estate business under the cover of the Smart City project.