Calcutta: Bengal could offer sops to attract technology firms to the proposed IT hub at Newtown, Rajarhat.

"The chief minister has laid the foundation stone of the Bengal Silicon Valley Hub in August. A policy document is just about to come and soon it will be in the open.

"While I am not able to divulge till such time that the policy is out in the open, there will be a special support price and suffice to say that it will be an affordable price so that technology companies can come in," said Debashis Sen, additional chief secretary in Bengal's department of IT and electronics, at a CII summit on Tuesday.

Sources said the land price was escalating in the new business districts of Calcutta, including Rajarhat, as infrastructure was developing fast.

A study by Colliers International India Research shows that the rents in the peripheral business districts in Calcutta have increased by 5 per cent to a range of Rs 28-35 per square foot per month.

With the American Silicon Valley historically known for nurturing many businesses, a special rate could be key to make it affordable for startups to set up base in the proposed Bengal hub.

On having a global presence to grow business through a core and satellite model, Sen said: "Silicon Valley (in the US) is now not just the place. More people are leaving actual Silicon Valley because of exorbitant costs."