The coverage goals to reposition Andhra Pradesh as a tech hub submit the lack of Hyderabad and counters excessive prices in Tier-1 cities.
In a transfer to draw investments to the State, the Andhra Pradesh Cupboard authorized the Land Incentive for Tech Hub (LIFT) Coverage 4.0 for IT and ITES corporations on Tuesday.
As a part of this, the State Authorities will allocate land at 99 paise per acre all through the State on lease to potential traders, topic to the situation that the method of acquiring authorized licenses and graduation of development shall be accomplished inside six months from the date of the sale settlement.
Eligibility norms
The eligibility norms to avail of advantages underneath the LIFT scheme are as follows: IT and ITeS corporations should have a Fortune/Forbes rating itemizing prior to now three years or a market capitalisation of at the very least $1 billion or annual income. They have to create at the very least 3,000 jobs in three years. The potential World Functionality Centres (GCCs) traders should create at the very least 2,000 jobs in 3 years and 500 jobs per acre.
The IT Park builders should have already developed at the very least 10,00,000 sq.ft. industrial workplace area, assemble at the very least 1,00,000 sq.ft. per acre, and have a complete of 10,00,000 sq.ft. constructed area.
Norms for GCCs
For GCC builders, there needs to be an anchor tenant settlement for 20 per cent of the built-up area, and at the very least 50 per cent of the IT workplace area have to be bought to eligible corporations.
Following the state bifurcation and the lack of Hyderabad, this coverage has been formulated to utilise the infrastructure and expertise in Andhra Pradesh, with a concentrate on establishing new financial centres.
“Contemplating the rising congestion and prices in Tier-1 cities like Bangalore, Hyderabad, and Gurgaon, this cost-based attraction technique has been formulated to be helpful to folks by selecting land as a growth driver, eliminating relocation prices and related dangers, and attracting outstanding corporations,’‘ the Authorities mentioned in a launch.
Revealed on August 6, 2025
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