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Kochi Smartcity new agreement details

Updated: Category: Kochi Smart City Project
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The long awaited Smart City Kochi project is eventually seeing a hope of final agreement as Kerala Government and Dubai-based promoters are in their final attempt to make Kochi smart city project is a reality. Kerala hops today both parties will sign new agreement on Kochi SmartCity project. This resource gives you some exclusive news about the final agreement on Kochi Smartcity project final discussions. You can read here the highlights of final agreement and final discussions of Kochi smart city project.

Kochi Smart City project's future on Today February 2, 2011 in final discussion at Thiruvananthapuram

Kochi SmartCity, much awaited upcoming largest IT Park in India, is a joint undertaking between SmartCity and the Government of Kerala. Kerala Government and Dubai Government are getting ready for a new final agreement on today February 2, 2011 with a discussion between each other in Thiruvananthapuram, Kerala. This will be a final discussion to salvage the Kochi smart city project which offers over 90,000 direct and indirect jobs. There were a series of various disputes and disagreement to previous framework agreement was going on last seven years. The main barrier that caused postponement of the smartcity Kochi project was the conflicts about the free hold rights for 12 percent land of 30 acres which demanded by Dubai based promoters. But, the latest sources say that Dubai based Tecom Investments has left their demand for having freehold rights on 12 percent land of 29.5 acres which was not ready to agree by Kerala Government. The Dubai Promoters had demanded earlier that the free hold land rights of 12 percent land of 29.5 acres out of Special economic Zone (SEZ). But Kerala Government has rejected this demand of Dubai Based Team. This conflict was really changed the project as slow going scheme. But during the last month discussions Kerala Government official team which includes Chairman of smart city project S. Sharma, Chief Minister V.S. Achuthananthan and M.A. Yousuffali, the Government appointed mediator in the project, could convince that the free hold land cannot give out of SEZ due to Indian Government Law. If this understanding will reflect to a favorable decision for a reality of smart city project, it will be an accomplishment of the state Government and Mediator M.A. Yusuffali who was recently appointed by the state Government to resolve the free hold land rights issues between the Dubai promoters. Kerla hopes the Government will sign the final agreement of Kochi smartcity project on February 2, 2011.

Kochi smart city project final discussions on today between Dubai Government and Kerala State Government

ahaThe Dubai Government high profile team includes Abdul latif al Mulla, Tecom CEO, Ahmad Humaid Al Taye Dubai International Financial Centre (DIFC) Governor and Dubai economic Advisor Dr. Adnan Shilvan are reached in Kerala for the final agreement on today's meeting. With them NORKA roots Vice Chairman M.A. Yusuffali also will take part in the discussion. The final meeting of Smart city Kochi project will be held in Mascat Hotel Thiruananthapuram at Indian time at 12: 00 PM.
The Dubai Government high profile team includes Abdul latif al Mulla, Tecom CEO , Ahmad Humaid Al Tayer Dubai International Financial Centre (DIFC) Governor and Dubai economic Advisor Dr. Adnan Shilvan are is already at Thiruvananthapuram to sign a final agreement by discussing with Kerala Government officials in the meeting which will held on Today February 2, 2011.

Kochi Smart City project becomes reality

According to latest news, Kerala Government will suggest to Tecom abdul latif al Mulla in the final discussions to submit the Master plan of SmartCity within one month. Media report say that State government will state to Dubai representatives in the discussions that once smartcity Project complete Master plan submitted, the State Government will be register the 12 percent free hold land of 29.5 acres and hand over to Dubai promoters within one week. Also UAE representatives have left their demand on 12 percent free hold land of 29.5 acres in out of the limits of special economic Zone (SEZ) which prevents any real estate dealings. Sources say that Kerala Government is ready to do some compromise with Dubai Government. Government planned to provide reduced registration and stamp duty for Dubai based promoters. Kerala hopefully looking at smart city project future. The people whose lands lost due to the project are awaiting for the smartcity project jobs which is offered by the Kerala government earlier with the implementation of the project.

The highlights of the Smart Kochi Project final Discussion

  • Kerala Government will demand to submit complete Master plan of the SmartCity
  • State Government will be ready to compromise in the registration of 12 percent free hold land in SEZ.
  • Kerala Government will reduce the stamp duty and registration duty of land registration
  • UAE representatives will leave the demand of 12 percent free hold land out of Special Economic Zone (SEZ)
  • Tecom CEO Abdul latif al Mulla , Dubai International Financial Centre (DIFC) Governor Ahmad Humaid Al Tayer and Dubai economic Advisor Dr. Adnan Shilvan and NORKA roots Vice Chairman M.A. Yusuffali are participating in the discussions with State Governemnt of Kerala Officials.

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