10 acres of land to US IT major to set up company in Bhopal

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Bhopal, May 7: The Information Technology Department has allotted 10 acres of land to US-based IT major, Underhill Technology INC, for setting up an IT company in Bhopal.

The land has been allotted out of the 212 acres of land provided to the department for setting up an Information Technology Park at village Badwai in Bhopal, official sources said.

A sum of Rs 2.42 crore would be charged from the company at the rate of 25 per cent of the commercial rate of Rs 2400 per square meter fixed for year 2007-08 by Collector, Bhopal as per prevailing market value guidelines, they said One per cent land rent and land premium would be charged from the company and annual land rent of Rs 2.42 lakh would be fixed.

Separate amount would be payable for infrastructure development and maintenance as per the requirement.