Wonderla Holidays has planned to set up an Amusement Park in Chennai with an estimated cost of around Rs 350 crore for which the land was already purchased. In view of the levy of Entertainment Tax of 10% by the Government of Tamil Nadu under Tamil Nadu Local Authorities Entertainment Tax Act, 2017, over and above GST of 18%, the project was put on hold for some time.
Now the Government of Tamil Nadu has agreed to give exemption to the company from levy of Entertainment Tax for a period of 5 years commencing from November 1, 2019. Consequently the Company shall be commencing construction of the Chennai Project soon, subject to necessary Project approvals by the Authorities.
Wonderla is India's biggest amusement park, from the V-guard Group of companies, this is the second park from this group. The company also engaged in the business of Resort, Amusement Parks.
