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Gujarat decides to charge Rs 400 cr from Tata for Sanand land
The Gujarat Government has decided to charge Rs 400.65 crore from Tatas for the allocation of land at Sanand, Ahmedabad to carry on its project Nano Car.
The total land allocated for the project measures 1,100 acres, and with the current market rate of Rs 900 a sq. meter, the total value comes to Rs 400.65 crore.
The important decision was taken in a State cabinet meeting chaired by Chief Minister Narendra Modi. The Cabinet also decided that the company would pay compound interest at the rate 8 per cent from the date of possession of land, for delayed payment of the price, to the State Government.
The total land allocated for the project measures 1,100 acres, and with the current market rate of Rs 900 a sq. meter, the total value comes to Rs 400.65 crore.
The important decision was taken in a State cabinet meeting chaired by Chief Minister Narendra Modi. The Cabinet also decided that the company would pay compound interest at the rate 8 per cent from the date of possession of land, for delayed payment of the price, to the State Government.
