News Brief
Andhra Pradesh Offers Land At Rs 0.99/Acre To Attract Global Tech Giants, Unveils New Incentive Policy
Andhra Pradesh CM Chandrababu Naidu (Representative Image)
The Andhra Pradesh government, in a move to position the state as India’s next major technology destination, has unveiled a major land incentive.
One acre land for just Rs 0.99 under the newly approved Land Incentive for Tech Hub (LIFT) Policy 4.0 (2024–2029), according to a New Indian Express report.
Cleared by the state cabinet, the policy seeks to revitalise Andhra Pradesh’s economic prospects in the wake of Hyderabad’s loss post-bifurcation.
With metro cities like Bengaluru, Hyderabad, and Gurugram becoming increasingly saturated and expensive, AP hopes to offer a compelling alternative by turning its underutilised land bank into a magnet for top-tier tech firms.
Companies must meet rigorous benchmarks to qualify. For instance, IT/ITeS firms must either feature on the Fortune/Forbes list in the last three years or have a minimum market cap or annual turnover of USD 1 billion.
They must also generate 3,000 jobs within three years and ensure a density of 500 jobs per acre.
Similarly, GCCs must create 2,000 jobs over the same period, while developers must meet built-up space and tenancy criteria, including anchor tenant agreements and timely initiation of construction within six months of signing the land sale agreement.
