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« Drop in Rentals Lure Retailers towards Metros | Home | Real Estate Companies asked to Repay Loans via QIP Funds »

GOVT makes way for big SEZs

Union Government has reportedly decided not to apply an area limit of 5,000 hectare for SEZs if 2 or more such zones are merged thus making way for big SEZs in India. In an amendment to the SEZ rules, the developers are given more freedom on selecting the location by defining vacant land where a special zone can be set up as land where there are no functional ports, manufacturing units, industrial activities or structures in which any commercial or economic activity is in progress.

As per the SEZ rules published in the Gazette of India, the government may consider on merit the clubbing of contiguous existing notified SEZs notwithstanding that the total area of resultant zones exceeds 5,000 hectare.

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