MB Patil warns KIADB plot allotments to be cancelled for non-payment

Karnataka industries minister MB Patil has directed officials to cancel the allotment of industrial plots by the Karnataka Industrial Areas Development Board (KIADB) if entrepreneurs fail to pay the stipulated amount on time. The minister warned that action would be taken against officials who failed to enforce the rules.

As per KIADB rules, allottees must pay 30% of the plot cost within one month of allotment. An additional month may be granted upon request, subject to 10% interest. If the amount remains unpaid even after the extended period, the allotment must be cancelled, Patil said. He expressed displeasure over the lackadaisical approach of officials in enforcing the provisions.

Patil said that once a plot is allotted, subsequent activities must proceed without delay, and there is no point in allowing plots to remain vacant for long periods. He added that plots should be taken back and allotted to investors with the financial capacity to pay. Industries department principal secretary S Selvakumar, commissioner Khushboo Goyal, KIADB CEO Govind Reddy, and Karnataka Udyoga Mitra managing director Dodda Basavaraju attended the review meeting at Khanija Bhavan.