What is the purpose of the Land/Built-Up Area Rebate Scheme?

The scheme aims to provide a one-time rebate to the IT Industry in Goa for the purchase of land to create IT office space or for the purchase of built-up office space for IT operations, thereby promoting investment and growth in the state's IT sector.

Who is eligible to apply for this scheme?

New and existing units with IT operations in Goa are eligible, including Proprietorship Firms, Private/Public Limited Companies, Registered Partnership Firms, and Limited Liability Partnerships. Udyog Aadhaar registration is also mandatory.

What is the maximum rebate I can receive?

A unit can receive a maximum rebate of ₹1.5 crore for land purchased or ₹1 crore for built-up office space purchased. A unit can only choose one of these options.

Are there any specific requirements regarding employees?

Yes, the unit should have direct employment proportional to the built-up space (up to 80 sq ft per employee), and these employees must have been on the rolls for a minimum of 12 months. Additional incentives are provided based on the percentage of Goan origin or Goan Graduate employees.

How is the rebate disbursed?

The rebate is reimbursed to eligible companies in three tranches after the Commercial Operation Date or the date of policy notification, whichever is later. Units are evaluated at the end of each installment period to ensure continued eligibility.

Can existing units claim rebates for past transactions?

Yes, existing units may claim rebates on transactions made up to 3 years prior to the notification of the policy. For new units, the rebate can be availed for transactions made post-notification of the policy.

Land/Built-Up Area Rebate Scheme – Up to ₹15 Cr

Launched in 2018, the "Land/Built-Up Area Rebate Scheme" is one of the "Information Technology Policy Schemes" by the Department of Information Technology, Government of Goa. The scheme aims to provide Land / Built-up Area Rebate to the IT Industry in the state of Goa, fostering growth and investment in the sector. It supports both new and existing IT units by offering a one-time financial incentive for the acquisition of real estate for their IT operations. This scheme plays a crucial role in reducing the capital expenditure for IT businesses, making Goa a more attractive destination for technology companies. The rebate is specifically provided for the purchase of land to create IT office space or for the direct purchase of built-up office space for IT operations within the state. The program encourages IT units to establish or expand their presence in Goa, thereby contributing to local employment and economic development.

Applications are subjected to scrutiny as per a checklist within 30 days of receipt. Following this, the application is reviewed and approved by an Empowered Committee within 60 days. Sanction orders are then issued, and disbursement commences within 90 days from the initial application receipt. Units are also subject to evaluation at the end of each installment period to verify their continued eligibility for subsequent tranches of the rebate.

One-time rebate for Land Purchase: Up to ₹1.5 crore, calculated at ₹40,000 per male employee and ₹50,000 per female employee, limited to 60% of the land cost as determined by the Consideration Amount.
One-time rebate for Built-Up Office Space Purchase: Up to ₹1 crore, limited to 20% of the cost of the space as determined by the Consideration Amount.
Employee-based Incentive: Rebate percentage is disbursed on a pro-rata basis (50% to 100%) based on the percentage of Goan origin or Goan Graduate employees on the company's rolls.

Land/Built-Up Area Rebate Scheme

Land/Built-Up Area Rebate Scheme

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