At least 27 plots with a combined area of 57 acres are up for grabs to facilitate the setting up of IT, information technology enabled services and telecom units in New Town’s Silicon Valley Hub near Eco Park.

The state government is hopeful that these plots will not only be used to generate employment opportunities, but also provide an ecosystem for talented individuals working in top multi-national companies abroad to return and set up their own companies, said Debashis Sen, the additional chief secretary of information technology, electronics and e-governance as well as Hidco chairman.

The land price has been fixed at Rs 4.7 crore per acre and plot sizes range from 0.25 acres to 10 acres. The plots will leased out for a period of 99 years, an officer of the Housing Infrastructure Development Corporation (Hidco) said.

Interested companies will be able to apply for allotment of the plots from June 4 and this is the third phase of land distribution.

In the first two phases, Reliance Jio, TCS, CTS, Capgemini, Firstsource, Tech Mahindra and Indian Standards Institute were among those who had applied for land.

Sen said TCS had applied for 20 acres and they planned to hire 15,000 people. He sounded hopeful that the plots would be sold out fast as the rates of land were much lower compared to other cities.

“We had received a bullish response in the first two phases of allotment and more than 70 acres of the earmarked 100 acres in the valley has already been booked,” Sen said.

In some cases the formalities are almost over and Hidco has received full payments.

Kalyan Kar, vice-president of the Sector V Stakeholders’ Forum, said that considering the location and facilities available, the plots were good value for money.

A Hidco official said that along with the application, interested companies would have to pay an earnest money of Rs 25 lakh.