By order No. Cl 67 GMI 66 dated June 20, 1966, the Karnataka Industrial Areas Development Board (KIADB) was established as a statutory body under section 5 of the Karnataka Industrial Areas Development Act (KIAD Act)-1966 to encourage the quick and orderly establishment and growth of industries as well as the provision of industrial infrastructural facilities and other amenities in industrial areas throughout the State of Karnataka. A special Act called the KIAD Act from 1966 allows for the quick acquisition of land for infrastructure and industrial uses.
The KIAD Act’s statutory provisions, Rules, and Regulations govern how the KIADB operates. Senior government officials serve on the board in their advisory functions. The Board meets periodically to make decisions and oversee operations. KIADB’s vision and world-class infrastructure, Karnataka has attracted the attention of investors from all over the world as the top location for their startups and businesses.
KIADB is expanding Narasapur Industrial Estate
To support industrial development, the Karnataka Industrial Areas Development Board (KIADB), a fully owned infrastructure agency of the state of Karnataka, plans to create new industrial townships in a number of the state’s districts. According to a top KIADB official, the Board is currently in the process of purchasing about 17,000 acres to build new industrial regions.
“KIADB acquires land for two primary reasons. In addition to developing industrial estates where we lease property to small and medium-sized businesses, we also acquire land for huge industrial projects like single-unit complexes (SUC). We have bought 2,000 acres in Vasantha Narasapur in the Tumkur district, 1,000 acres at Narasapur in the Kolar district, and 660 acres in the first phase at Vemagal in Kolar district over the previous two years since the global investors meeting in 2010,” said MB Dyaberi, Chief Executive Officer, KIADB.
The KIADB is creating a new industrial area in Vemagal, which is located between the regions of the Chennai-Bangalore Expressway, in two stages. While it has acquired 660 acres so far in the first phase, another 1,250 acres have been identified for the second phase.
The Kolar district’s Narasapura Industrial Area is 53 km from Bangalore, and the KIADB has suggested building the city there in three stages. It has acquired 685 acres for the first phase and notified 1,480 acres for the second phase under Section 28(1) of the KIADB Act. There have been identified as 2,000 acres for the third phase.
Why invest in real estate near KIADB Narasapur industrial area?
The IT and related industries are driving Bengaluru’s development, which makes it one of India’s fastest-growing cities. The city’s charm continues to be enhanced by its pleasant temperature, excellent connectivity, and cosmopolitan atmosphere.
Compared to other regions of properties, the rate of return on industrial investments is consistently greater. Industrial property typically has a yearly growth in value of 7–10%. Higher yields guarantee an early return on the investment, giving you more time to generate revenue.
Narasapura Industrial Area located between the region of the Chennai-Bangalore Expressway, India’s first greenfield expressway, was built by the National Highway Authority of India. The Eastern Ghats will be traversed by the Bangalore-Chennai Expressway as it travels from Hoskote near Bangalore to Sriperumbudur in Chennai in Tamil Nadu.
As is typical of such developments, residential areas sprout up next to commercial structures, giving developers hope for the future of the improved real estate. The rates in the areas close to the expressway may rise significantly after construction is complete, despite the fact that they are already high in general.
How to invest near KIADB Narasapur industrial area?
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