GIDC Proposes Doubling FAR at Verna IT Park Expansion

Fast Summary:

• The goa industrial development Corporation (GIDC) proposes too double the permissible Floor Area Ratio (FAR) from 150 to 300 for the proposed IT park, ‘Hello World,’ at Verna industrial estate, pending government approval.
• The IT park will span 4 lakh sqm (98 acres) and includes seven plots of 25,000 sqm each for IT companies on approximately 3 lakh sqm; the remaining land is earmarked for a business hotel, hostel, and utility services.
• The decision was made during GIDC’s 398th board meeting to promote vertical growth and enhance financial appeal for developers. It aligns with updated Goa land development regulations allowing FAR relaxation subject to government consent.
• Verna’s infrastructure advantages include proximity to Dabolim Airport and a stable industrial setup favorable for IT projects. Officials believe this could position ‘Hello World’ as one of the largest tech hubs in Goa if implemented successfully.
• Past attempts at establishing IT parks in Goa have faltered: examples include Rajiv Gandhi IT Habitat (2006), ESDM Park at Tuem (2015), and an abandoned plan near Kadamba plateau.

Indian Opinion Analysis:
Doubling the FAR at ‘Hello World’ represents GIDC’s targeted approach toward promoting sector-specific growth in data technology-a departure from general manufacturing-centric strategies seen previously in Goa industrial estates. While such regulatory relaxation may improve project feasibility for developers and attract investments focused on employment creation,lessons must be learned from earlier failed attempts where IT parks never materialized despite promising starts.

Strategically located near Dabolim Airport with robust infrastructure support,Verna offers an ideal base; however,ensuring triumphant execution involves overcoming historical bottlenecks surrounding large-scale projects in the region-such as bureaucratic delays or underutilization of resources-to deliver meaningful outcomes that serve Goa’s economic aspirations effectively.

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