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Intl airport 30-year land lease effected

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Press Trust Of India Bangalore
Last Updated : Feb 06 2013 | 8:52 AM IST
The Karnataka State Industrial Investment and Development Corporation (KSIIDC) has signed a 30-year land lease deed, renewable for a period of another 30 years, in favour of Bangalore international airport limited.
 
This sets the ball in motion for the construction of the Bangalore International Airport at Devanahalli, some 35 km from here.
 
At the sub-registrar's office at Devanahalli, the managing director of the KSIIDC, I M Vittala Murthy effected transfer of 3,884.25 acres of land, which was in possession of KSIIDC, in favour of BIAL, represented by its chief executive Albert Vrunner, an official statement said.
 
The state government has given exemption from stamp duty for registration of the deed, the statement said.
 
The airport is expected to become operational in 30 months from the start of its construction, which has seen repeated delays.
 
Bangalore, with its near three-lakh strong IT industry, has already overtaken Chennai in terms of the number of passengers flying in and out.

 
 

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