As per to the sources saying at the www.propertykhazana.com, Board of Approvals headed by Commerce Secretary has permitted K Raheja Universal’s appeal to cast-off its Navi Mumbai SEZ and has permitted 24 developers to set up the tax-free industrial enclaves. Also, the board has given green signal to cast-off one more SEZ developed by the K Reheja Universal. Even if there are no supplies for de-notification of zones in SEZ Act or norms so far, so, the law ministry has informed its commerce correlative that the board has the authority to de-notify SEZs with the state of affairs that the developer has to return the Govt. all the profits enjoyed while constructing.
According to the sources said at the www.propertykhazana.com, there are 95 operational zones out of 580 SEZs officially permitted in February. BoA gave its permission to a plan by DLF Ltd. to allow the metro corridor to go from NH-8 to Sikandarpur to go through Cyber City SEZ in Gurgaon. The corridor will be constructed by means of public private partnership (PPP) by the Haryana Urban Development Authority (HUDA) and a group of ITNL ENSO Rail Systems Ltd. (IERS), IL&FS Transportation Networks India Ltd. (ITNL) and DLF. Tax exemptions must not be used while constructing the high corridor by the zone, said the developers and besides, the corridor will not lead to crisis in community a necessary condition for SEZs as of its valued status. For more updates on realty market browse www.propertykhazana.com.
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