Karnataka Government Allocates 140 Acres to US Chip Equipment Maker Applied Materials.

The Karnataka Cabinet has approved the allocation of 140 acres of land at the Bengaluru Signature Business Park (BSBP) near Kempegowda International Airport to US-based semiconductor equipment major Applied Materials Inc for ₹780 crore, officials said.

The Cabinet has pegged the land value at ₹1,288 per sq ft, arriving at the total consideration of ₹780 crore. The BSBP, spread over 400 acres, is being developed as a major hub for high-tech industries.

Law and Parliamentary Affairs Minister H. K. Patil said the allotment will be carried out on a lease-cum-sale basis, subject to regulatory approvals and final pricing adjustments after valuation checks aligned with guideline rates.

He added that the decision remains conditional on statutory clearances.

The state government will also review the disposal framework for the remaining 267 acres of land at BSBP, including the possibility of competitive bidding and the appointment of transaction advisers. Officials said the broader land allocation policy for the business park will be re-examined to ensure transparency and efficiency in future transactions.