MIDC hikes plot rate despite shaky investment climate
* The move raises eye-brows considering the volatile situation in industry sector By Kartik Lokhande Right from the top leaders to policy planners, everyone agrees that economic situation is shaky and investment climate is rough. However, Maharashtra Industrial Development Corporation (MIDC) does not appear to be thinking so. In the latest development, MIDC has more than doubled the rate of plots for industries in areas like Butibori. The plots in industrial areas were available for Rs 520 per square metre previously. In the latest board meeting, MIDC decided to increase the rate to Rs 1,150 per sq mtr. Vijay Bhakre, MIDC Regional Officer (Nagpur), confirmed the development. He told ‘The Hitavada’ that the increase was due considering the higher cost at which land for Butibori additional area was acquired and certain other factors. “Still, the rate is just Rs 110 per sq ft. The market rate for land outside MIDC area in the same belt is Rs 700 to Rs 800 per sq ft. ...