Bengaluru: In a major relief to Medium, Small and Micro Enterprises (MSMEs), the Karnataka Cabinet has yesterday cleared an amendment to the Karnataka Industrial Area Development Board (KIADB) rules for allotting lands on 10-year lease-cum-sale instead of 99-year lease basis.
Ten-year lease-cum-sale would be applicable only for land parcels less than 2 acres. The Cabinet took a decision to drop the stiff clause of 99-year lease for allotment of land or plots to industries and infrastructure projects.
