Karnataka Approves 140 Acres for Applied Materials at Bengaluru Signature Business Park

In a significant push towards strengthening India’s semiconductor ecosystem, the Karnataka Cabinet has approved the allocation of 140 acres of land to Applied Materials Inc at the Bengaluru Signature Business Park (BSBP). The project is located near Kempegowda International Airport, a region that is rapidly emerging as a high-tech industrial corridor.

The land has been valued at ₹1,288 per square foot, taking the total deal size to approximately ₹780 crore. This allocation is part of the larger 400-acre BSBP development, which is being positioned as a strategic hub for advanced technology industries, including semiconductors, electronics manufacturing, and allied sectors.

The allotment will follow a lease-cum-sale model and remains subject to statutory approvals and final valuation adjustments. Officials have indicated that all regulatory clearances will be carefully evaluated before final execution, ensuring compliance with existing frameworks.

This move is expected to significantly boost Karnataka’s ambitions of becoming a leading destination for semiconductor investments in India. With global players increasingly looking to diversify manufacturing bases, Bengaluru continues to attract attention due to its strong ecosystem, skilled workforce, and infrastructure advantages.

In addition to this allocation, the state government is also reviewing the development strategy for the remaining 267 acres within the business park. Authorities are exploring options such as competitive bidding and the appointment of transaction advisors to ensure transparency and optimal value realization in future land allotments.

The decision reflects a broader policy shift aimed at accelerating industrial growth while maintaining regulatory discipline. By facilitating large-scale investments in cutting-edge sectors, Karnataka is positioning itself at the forefront of India’s technology manufacturing landscape.

With proximity to the airport and improved connectivity, the BSBP is expected to play a crucial role in attracting global investments and generating employment opportunities in the coming years.