Kochi Smartcity final agreement is signed

The long awaited Smart City Kochi project is eventually into reality. Dubai government agreed the the hope of final agreement because Kerala Government and Dubai-based promoters are in their final attempt to make Kochi smart city project is a reality.

Kochi Smart city final agreement signed by Government

Kerala Government signed on Kochi smart city agreement after a long time. Kerala was awaiting SmartCity future of which decided today in the meeting between both Governments of Kerala and Dubai. The meeting was successfully completed at Mascat Hotel Trivandrum. Tecom CEO Abdul latif al Mulla , Dubai International Financial Center (DIFC) Governor Ahmad Humaid Al Tayer , Dubai financial Advisor Dr. Adnan Shilvan and NORKA roots Vice Chairman M.A. Yusuffali were the participants in the final discussions with State Governemnt of Kerala Officials. Delegates first reached at clif house and moved to the Mascat hotel for further discussion.

Dubai Government withdrawn the demand on the issue regarding the free hold right of 12 percent land. The Government has forwarded the suggestion to submit complete master plan of Kochi Smart City project within one month. Kerala Government offered reduction on stamp duty and stamp duty of registration if the Dubai promoters submit the master plan within one month. Government also stated that the free hold 12 percent land in the limits of SEZ will register and handover to promoters within one week after the submission of master plan.The construction works are expected to start within three months. There will take place a detailed meeting of state cabinet ministers at 4 PM. The Kerala Government will give the free hold rights on 12 percent of around 29.5 acres land, but real estate dealing rights did not agreed.

Kochi smart city project construction wil start within three months

Kochi Smart City project was a long pending dream for Kerala. Many land owners and farmers have given their land for Smart City project. The farmers became unemployed as their land taken by the Government for the project. Kochi Smart City jobs are only the console for those who have lost their land due to the project. The Government had offered one job per family in the earlier budget. The people who have bought flats and plots near by the project land expecting arrival of big IT professional companies, are in trouble as the project was not implemented. Once Kochi Smart City project is implemented there will be a boom in the real estate sector, construction field and various IT jobs.

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