Investor Zone

Allotment Procedure

  • Application for allotment to be submitted with project profile indicating raw material, process flow diagram, end product and Cheque/Demand Draft of Rs.5000 and GST applicable drawn in favor of Western India Kinfra Limited payable at Kanjikode, Palakkad.
  • Lease period is 30 years. There are two different schemes for leasing the land in Wisepark. The applicant shall opt for any one of them. (For details please refer Land Leasing schemes section.)
  • Proposal to be placed before Land Allotment Committee of WIKL.
  • Once the proposal is cleared by the Land Allotment Committee, intimation letter will be issued to the allottee and in case of land allotment with lease premium, allottee shall remit 10% of the total amount of lease premium as Earnest Money Deposit (EMD) + GST within 15 days from the date of receipt of letter of intimation. The EMD shall be adjusted against the lease premium, once the allottee makes the payment of balance lease premium within the stipulated time and executed the lease deed registered with SRO.
  • In case of land allotment without lease premium but with interest free deposit and annual lease rent with periodical increase, the allottee shall pay the security deposit in full and first year annual lease rent with GST payable in advance in full within one month from the issue of allotment Letter.
  • On registering the lease deed with SRO, the utilization period is 24 months, during which the allottee has to submit the drawings, construct the building, installation of plant and machinery and the unit shall be ready for commercial production as mentioned in detail on the lease deed.

Would you like to know how we can assist you? Send an e-mail to wiseparkindia@gmail.com, and we will get back to you promptly.

Land Leasing Schemes

There are two land Leasing schemes available to choose for investors in Wisepark.

Scheme 1: Land leasing with lease premium

  • The investor have to pay an upfront payment land leasing premium plus first years annual lease rent (GST applicable for rent). The investor will be entitled to mortgage the lease hold right in the leased land to financing institutions to avail loan. A tripartite agreement will be executed between the lessee, lessor and the financial institution if the investors plans to mortgage the allocated land.

Scheme 2: Land leasing without lease premium but with an interest free security deposit.

  • The investor have to pay an interest free security deposit plus first year annual lease rent (GST applicable for rent). The investor will not be entitled to mortgage the lease hold rights in the leased land. A personal guarantee deed will be executed by the lessee guaranteeing regular payment of annual lease rent.

Would you like to know how we can assist you? Send an e-mail to wiseparkindia@gmail.com, and we will get back to you promptly.