Cabinet set to approve SmartCity lease pact
The Cabinet meeting, slated for December 31, will approve the draft of the lease agreement of the proposed SmartCity Kochi, said Fisheries Minister S. Sarma, who is also the chairman of the company. The Cabinet is also likely to finalise a date for the registration of the lease agreement, Mr. Sarma said. “The registration will not go beyond January,” he said.
The promoters of the project have long been demanding the registration of 136 acres out of the 246 acres of the project area in their name. Even at the press briefing after the last meeting of the board of directors held on Monday.
He had to admit that there was some delay caused by the ‘system.' He said the delay could have been averted had the other partner been a government rather than a private player.
Mr. Sarma said that the government had received the legal opinion on the SmartCity draft lease agreement. The draft had been circulated among the law, finance, IT and administrative departments and was now with the Chief Secretary. This will be placed before the Cabinet for approval, he said. Once the lease agreement is registered, the State can ask SmartCity to start the initial construction work as per the clause in the agreement.
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