The Karnataka cabinet on April 30 approved the allotment 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. The land allocation was made on a lease-cum-sale basis after examination of valuation norms aligned with guideline value. The decision remains subject to statutory approvals and final pricing mechanisms, as per various media reports.
Bengaluru Signature Business Park spans 407 acres and was first proposed in 2008. It is being developed under a public-private partnership model. The move forms part of Karnataka’s semiconductor and advanced technology strategy, which focuses on design, research and development, and global capability centres.
Applied Materials already maintains significant operations in Bengaluru.
