NRIs show interest in industrial plots in Gurgaon

The dollars might just begin to flow in. This was the hope with which the state government decided to reserve 10% of industrial plots solely for the NRI clientele in its 2011 estate management policy. The move will “boost the inflow of foreign exchange in the country,” a government statement said.

To the relief of the policy makers here, the scheme finally has some takers. The Haryana State Industrial and Infrastructural Development Corporation (HSIIDC) announced the list of successful applicants for this allotment scheme recently, under which some 19 plots have been sold to NRIs across the state.

Many of the corporation’s under-development townships, like in Bawal, Rai, Saha and Panipat, had a number of plots up for allotment under the NRI quota. But the maximum figures were recorded in Faridabad, where 10 out of the 19 NRI allotments were made. Plots in both Gurgaon and Manesar failed to make it to the list.

“The final decisions were made last week at a meeting held by the NRI Plot Allotment Committee,” said an HSIIDC official, adding that the measurements of the plots allotted range between 450-1800 square metres. The 2011 policy amendment, that granted 10% reservation to NRI entrepreneurs, was followed by the constitution of a special Foreign Investment and NRI Cell, which is run by the HSIIDC in various districts.

“NRIs and PIOs have been accorded the status of preferential category for allotments of plots,” said an official HSIIDC statement. tnnThe reservation on 10% of plots ‘in each estate developed by the HSIIDC’ for the NRIs also extends to all industrial units ‘with 33% or more FDI in total investment.’

Gurgaon’s industrial community didn’t take kindly to the NRI scheme, back when it was announced. The corporation was accused of ‘playing the property dealer’ and of ‘devising ways to reap heavier profits.’

Source: The Times of India, Delhi/NCR