West Bengal government in a bid to attract IT / BPO ventures is offering cheap land having slashed the price by Rs. 66-lakh per acre!

West Bengal government owned HIDCO, which had for long refused to lower its exorbitant price of Rs. 2.16-crore per acre despite coaxing by the state government, is now charging a flat rate of Rs. 1.5-crore per acre for IT / BPO firms wishing to set themselves up at Rajarhat. This is, mainly, due to the numerous meetings the state IT department held with HIDCO top brass, and conveyed the misgivings of some of the biggest IT-firms, with complaints about the high priced land in Rajarhat.

While, the IT department was working hard to attract some of the biggest IT firms to West Bengal, Rajarhat’s high priced land proved to be a stumbling block, holding up a string of major land allotments to Wipro, ITC Infotech and Satyam.

However, though the state government may wish to reduce land rates further in Rajarhat, HIDCO is unwilling to lower prices any further. Still, a cut of Rs. 66-lakhs is not something to be sneezed at!