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Government approves 6 new SEZs for IT, biotech

Posted on Dec 02, 2016
The government has approved six proposals from four developers to set up new special economic zones (SEZs) across three states in areas such as IT and biotechnology.

The decision was taken by the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, at its November 9 meeting, an official said.

The developers who got nod for new zones include Vaxenic India, EON Kharadi Infrastructure and KRC Infrastructure.

GAR Corporation has proposed to set up two IT/ITeS zones in Telangana, while Vaxenic India wants to set up biotechnology and bio pharmaceuticals SEZ in the state.

EON Kharadi Infrastructure and KRC Infrastructure too have planned to set up separate IT/ITeS special economic zones in Pune. Information Technology Park has got the approval to set up IT zone in Karnataka.

The board has also given additional time to six developers and units to implement their projects.

G P Realtors had sought further extension of the validity period of formal approval granted for setting up electronic hardware and IT/ITeS zone in Haryana.

"The board, after deliberations, extended the validity up to November 13, 2017," the official added.

SEZs are export hubs, which contribute about 23 percent in the country's total outbound shipments.

Exports from special economic zones logged a marginal growth of 0.77 percent to Rs 4.67 lakh crore in 2015-16.

The exports from such 204 zones were Rs 4.63 lakh crore in 2014-15.

As per the Commerce Ministry's data, as on March 31, these zones had attracted investments worth Rs 3.76 lakh crore and generated employment for 15.91 lakh people.

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Nod for mixed use on land for SEZ in Noida

Posted on Nov 08, 2016
Delhi/NCRUttar Pradesh government has cleared a proposal to change the land use of about 1000 hectares of land earmarked for a Special Economic Zone (SEZ) as per its Master Plan-2031, on the Noida-Greater Noida Expressway. The move comes more than two years after Noida Authority had sought the change. The said land is now proposed to be categorized ...
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DLF to invest Rs 500 cr on developing IT park in Chennai

Posted on Sep 13, 2016
Realty major DLF will invest about Rs 500 crore to develop an IT Park in Chennai as the commercial real estate market has picked up in major cities.The country's largest realty firm has exhausted its commercial space stock by leasing out over 32 million sq ft. It expects to earn about Rs 2,700 crore rental income in the current fiscal from its port ...
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Bangalore’s Brigade Group to set up SEZ, hotel in GIFT city

Posted on Aug 12, 2016
One of South Indias biggest real estate company, Brigade group, inaugurated work on two new projects in Gujarat International Finance Tec (GIFT) City.The first is a special economic zone and the second, an ibis STYLES Hotel.The SEZ office towers will be of half million sq.ft with flexible office space of which the 1st phase is being launched now.T ...
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Embassy Group to develop SEZ in Chennai

Posted on Jun 29, 2016
Real estate developer Embassy Group has emerged as the exclusive co-developer for setting up a 30-acre special economic zone to come up in the city.The project, a 30-acre SEZ property, on Thoraipakkam Pallavaram Radial Road in Chennai would be known as “Embassy Splendid TechZone”. The first phase of the project is expected to be completed by 2019. ...
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Office space transactions down 70% in Kolkata during quarter ended June

Posted on Aug 13, 2015
KOLKATA: Office space transactions in Kolkata shrunk 70 per cent from a year ago to 0.25 million sq ft in during the quarter ended June due to low demand, showed a Colliers International India report.ITITeS remained as the key occupiers with 70 per cent share of the total absorption. Most of these transactions were at Sector V and New Town micro ma ...
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Maharashtra government mulls legislation to block profiteering from SEZ land sale

Posted on May 07, 2015
MUMBAI: The Maharashtra government will soon introduce a special legislation to deter companies that have been allotted land under the SEZ Act for industrial activity, but have done nothing so far, from selling the land at a higher price.Termed 'SEZ Prevention of Land Speculation Bill', which is likely to come into effect in six months' time, will ...
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Will Navi Mumbai properties see high pricing as Mumbai?

Posted on Dec 22, 2014
Wide roads, planned settlements, greenery around- Navi Mumbai is better explained as modified version of Mumbai which has the capacity to uphold the bustling population. But will the new town see strong dynamics as the old city? Well, Magicbricks tells you if yes, how?Proposed infrastructureTrans Harbour Link Road, Jawaharlal Nehru Port Trust SEZ, ...
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Nashik property showcase at Thane

Posted on Sep 24, 2014
The Nashik-Pune-Mumbai triangle has evolved over the years with enhanced connectivity providing a much-needed impetus to inter-connected development and real estate growth. Nashik has also become an established hub for education and wine tourism, making it more attractive to home buyers from Mumbai in recent years. Confederation of Real Estate Deve ...
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Can’t afford Uppal? Try Boduppal

Posted on Sep 23, 2014
Uppal offers bungalows at a starting price of about Rs 40 lakh, a same size unit is available for about Rs 25 lakh in Boduppal. This price difference is attracting buyers from different earning segments including those working in the IT corridor of Gachibowli, government employees and small businessmen. A standalone residential house of 150 sq yard ...
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Roadpali: An affordable alternative to Kharghar

Posted on Sep 05, 2014
Kharghar, a node city of Navi Mumbai, has been one of the most preferred localities to buy a residential property in and around Mumbai for the past one year. This has resulted in a rise of 24 per cent in property prices in the last one year. As a result, the locality has become out of reach for many buyers with a limited budget who are forced to lo ...
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Residential Apartments push land prices in Sarjapur Road

Posted on Sep 01, 2014
Bangalore:- One reason for the rise of land prices in Sarjapur Road is the development of apartments. Proximity to work places, easy accessibility to IT clusters, SEZs, residential areas, Tech parks and improved connectivity due to flyovers, broad roads and ORR have ensured that Sarjapur is top listed locality. Sarjapur, synonymous with Bangalore ...
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Whitefield – Development hub for micro markets

Posted on Aug 20, 2014
Connectivity was one of the key factors that led to Whitefield developing as an IT hub. Good civic infrastructure provided a link to important commercial centres as well as to upcoming areas in the vicinity. Cushman & Wakefield, “Connectivity to Whitefield has led to commercial development in the locations around, especially along the ORR belt. ...
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Supply of smaller units high in Dombivli East

Posted on Aug 07, 2014
Dombivli East in the Thane region Supply of smaller units in Mumbai is falling short of demand. Dombivli East has over 30 active projects offering 1-BHK apartments of size 450-600 sq ft. The locality also boasts of ample employment opportunities. Since Thane and Navi Mumbai possess a commercial belt, new job opportunities are coming up around these ...
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One-BHK units are popular in Airoli

Posted on Jun 19, 2014
Airoli, one of the developed node cities of Navi Mumbai, is lately witnessing an increasing demand for 1-BHK apartments. Two major reasons behind this are the limited budget of buyers and the increasing number of bachelors in the area. “Most of the clients are young people who have just started working and are looking for a home,” says Dhananjay Ya ...
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Buying a house in Noida becomes costlier affair as land allotment rate goes up

Posted on Jun 19, 2014
Buying a house or any residential property in Noida will now be a costlier affair, as the Noida and Yamuna Expressway authorities decided to hike the land allotment rate up to 10-12% at a board meeting on Monday. “We have increased the land allotment rate up to 10% in Noida in all categories, except for commercial properties. Rates of commercial pr ...
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Navi Mumbai: Rs 78 lakh flat reaches Rs 1 crore in 1 year

Posted on Jun 16, 2014
Airoli, one of the most developed Node cities of Navi Mumbai, is witnessing a rise in the capital values of apartments in the area. According to Magicbricks data, an apartment priced Rs 78 lakh in Jan-Mar 2013 quarter is being sold for Rs 1 crore in Jan-Mar 2014 quarter.Major reason behind this price rise is escalating demand facing saturation in s ...
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Zooming in on Kharadi in Pune

Posted on Jun 10, 2014
The residential property market has altered Punes landscape and changed the citys dynamics.The IT boom and the skilled workforce that this boom has attracted have resulted in the city being one of the most sought-after real estate destinations in the country.Known as the Oxford of the East, this educational hub is slowly transforming itself to ma ...
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4 hotspots to invest Rs 20-40 lakh near Mumbai

Posted on Jun 10, 2014
To buy a property in Mumbai may require you to make a minimum investment of Rs 1 crore, but for those who could only invest Rs 20-40 lakh, should not get dismayed. There are many such property options around Mumbai. Here are few emerging hotspots that Mumbai residents with a limited budget are looking at:Checkout properties for investment in Asanga ...
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Ansal to develop IT SEZ in Greater Noida

Posted on May 19, 2014
May 19, 2014Realty major Ansal Properties and Infrastructure will be in vesting Rs 130 crore over the next three years for the development of a 75-acre IT Special Economic Zone (SEZ) in Greater Noida, according to reports.The plan was initiated in 2006, but the company went slow on the project on account of economic slowdown. However, with the stab ...
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