Notification of the Karnataka Special Investment Region Act, 2022(dated-12.01.2023)-Govt. of Karnataka.

  • 17th, January 2023
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Notification of the Karnataka Special Investment Region Act, 2022(dated-12.01.2023)-Govt. of Karnataka.

  • The Karnataka Special Investment Region (SIR) Act, 2022 has been passed by the Karnataka Assembly. It aims to provide special incentives for new industrial ventures larger than 2,500 sq. km and will also apply to existing industrial units larger than 1,250 sq. km. The Act will override the Karnataka Country and Town Planning Act and will not fall under the jurisdiction of local bodies wherein 30% of property tax collected from SIR will be distributed to the local body, while the remaining funds will be used for amenities in the industrial area. Refer to the attachments for further details.
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