Kochi Smart City latest updates: Kochi Smart City final agreement

Read this article to know the latest updates of Kochi smart City, latest news about Kochi Smart City project,Kochi Smart City final agreement, Kochi Smart City final decisions etc.

Kochi Smart City comes to reality

kochi smart city

After long months of talks and controversies, the battle of Kochi Smart City between Kerala Government and Dubai Government has been ended in a success. The project promoters called TECOM became the prime witness of this great news which brings a new hope for the lakcs of job seekers in Kerala or we can call them unemployers. The project aims on giving jobs to almost 2 lakh people in Kerala. The final decision related to the project was taken on 2nd February2011 by the honourable Chief Minister of Kerala, Shri V S Achuthananthan and the bodies of Dubai Government including Ahmed Humaid Al Tayer. All the prime deal documents were hand overed to TECOM on the same day itself. The cabinet meeting in 2nd February 2011 also approved the project. The Government also conveyed a sincere regards to M A Yusuf Ali for his sincere works in Kochi Smart City Project which finally comes to a reality.

Important decisions taken in the Kochi Smart City agreement

kochi smart city 1

- It has been decided that the the buildings will be framed in the allocated places as early as possible.
- Government and promoters agreed that the freehold of 12 per cent of the land proposed in the Kochi Smart City agreement would be within the special economic zone (SEZ) and would be inalienable.
- The free hold area available is 29.5 acres and the rest of the area from the total of 246 acres will be given to the promoter company on lease for 99 years.
- Kerala Government also decided to avoid registration fees and stamp duty for TECOM

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