The Punjab government today launched the scheme for allotment of industrial plots for IT and knowledge industry at Railmajra IT Park here.

Punjab Industries and Commerce minister Manoranjan Kalia, in a release, said that development of such land parcels for the IT industry comes as a welcome step in Punjab where land is a very scarce resource. "This would throw open doors of opportunity for quality private players in IT who have been hunting for space in the region."

IT Park would come up at 12.11 acres of land at Railmajra. Kalia said total contiguous land of 12.11 acres has already been acquired and is in possession with Punjab Infotech.

"The development of IT Park is expected to start by third quarter of the year 2010. Project will have 50 per cent processing area and balance 50 percent non-processing area," he said.

He revealed that five plots each of the sizes 1000 square yards and 2000 square yards have been opened for allotment under the government's general scheme at Rs 4,000 per square yard.