DLF Plans to Renew its Kolkata SEZ
May 2010:
With improvement in the real estate sector, the country’s largest developer DLF wants to revive its plan for a special economic zone in Kolkata. The company which surrendered four SEZ projects last June due to demand shrinkage for commercial space has approached the commerce ministry for reviving the Kolkata project, an official said on Wednesday.
“The board of approval will take up the DLF request for renotification of the SEZ in its next meeting on June 8,” the official said. The tax-free enclave, meant for the IT and ITES units, was notified in June 2008 over 10.48 hectare and at the request of the developer it was denotified this February.
“Now, the developer wants to get the project renotified, stating that demand for IT\ITES leasing space is showing signs of improvement,” the official said, adding however, DLF’s three other projects in Gujarat, Haryana and Orissa remain denotified. In all about 12 developers had pulled out their projects due to slowdown in the commercial space segment last year.
Source: IndiaRealtyNews | Back to Realty News