DLF Seeks GOVT Approval to Build Apartments & Commercial Complexes in SEZs

June 19, 2009	(Be the first to rate this story!)  Loading ...
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Realty major DLF has sought government approval for building service apartments and commercial complexes in four special economic zones, of which two are located in Gurgaon. The Board of Approval (BoA) in the Commerce Ministry will consider requests from the developers for building apartments and commercial space in the non-processing areas of the four IT/ITeS SEZs at Gurgaon, Chennai and Hyderabad, an official said. The non-processing area includes non-core activities.

The BoA is meeting here on June 17 to take up the request, along with other agenda. DLF has informed the ministry that it wants to build service apartments on 15,000 square metre and commercial space on 12,000 sq m at one of its Gurgaon SEZ. The total notified area for SEZ is 10.73 hectares (1,07,300 sq m). At the height of the SEZ ontroversy, it was alleged that the land was being acquired for real estate gains by the developers. However, the Commerce Ministry has denied these claims stating the commercial activities would be restricted to non-core areas. The SEZ developers have been demanding that they should be granted an infrastructure status for availing the bank finance. However, the Reserve Bank has not acceded to the demand taking a view that it is a real estate activity.

News Published Under:   Special Economic Zones |

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