The Andhra Pradesh government has allotted 21.16 acres of land in Visakhapatnam to Tata Consultancy Services (TCS) for a symbolic price of just 99 paise, according to a report by Moneycontrol. The proposal is expected to be cleared in the upcoming Cabinet meeting on April 15.
The land allotment is part of the government's broader strategy to develop Visakhapatnam (Vizag) into a major technology hub. State IT Minister Nara Lokesh first proposed the idea during a meeting with Tata Group executives in Mumbai in October 2024, urging the tech giant to consider Andhra Pradesh for its next large-scale IT campus.
The report said that after months of engagement between TCS and the state administration, the plan secured Cabinet-level approval earlier this week. Officials said the symbolic pricing is a strategic message to the global IT industry that Andhra Pradesh is open and aggressive in pursuing top-tier technology investments.
“This is our Sanand moment for the IT sector,” a government official told Moneycontrol, drawing a parallel to the time when then Gujarat Chief Minister Narendra Modi had offered land to Tata Motors in Sanand at 99 paise.