The Kerala government on Saturday announced significant modifications to the Land Disposal Regulations governing industrial land allocation by the Industries Department.

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The amendments in the regulations governing the industrial land allocation by the Kerala Industrial Infrastructure Development Corporation (KINFRA) and the Kerala State Industrial Development Corporation (KSIDC) aim to create a more industry-friendly environment, fostering investment and growth in the sector, Industries Minister P Rajeeve said here.

KINFRA and KSIDC have been instrumental in developing industrial infrastructure in Kerala for over 30 years, creating industrial parks and allotting land to prospective entrepreneurs under long-term lease arrangements, he said at a press conference.

However, recognising the need to modernise these policies in line with best practices across India, the Kerala government has undertaken a comprehensive review and revision of the LDR, he said.

"The state government is confident that these revised regulations will provide a significant boost to industrial development in the state, attracting large-scale investments and fostering a conducive business environment," the minister said.

As per the new modifications, the lease period has been made from 30 years to 60 years across the board, an official statement said.

However, for investments of Rs 100 crore and above, land will be allotted for a period not exceeding 90 years, it said.

For logistics activities and sub-leasing of warehouse facilities, the original allottees may sublease the built-up space constructed by them to another operator provided the period of sublease shall not exceed the period of the original lease period, it said.

A new instalment scheme was also announced for all investors, the statement further said.