GMR planned SEZ projects in Hyderabad
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GMR Group a Hyderabad based company which succeeded the deal to renew Delhi Airport and had attached the movement of Indian Enterprises in situating the SEZ’s. Different other companies who were on the property acquirement spree to cash in on explosion in the tax free enclaves and GMR was setting up to invest Rs. 1,500 Crores to establish a multiple SEZ and focusing on aircraft activities in the locality nearer to Hyderabad’s Greenfield Airport. Sources also revealed at the www.propertykhazana.com that company had been to the board for approvals which clears the SEZ which was planned in over 250 acres of property. It also told that, “GMR possess about 700-750 acres of property in Shamshabad where the new Hyderabad Airport was about to come and piece of that property measures for about 250 acres had been allotted for SEZ venture.”
Source also revealed that, the AP Government had already given nod to set up the SEZ and it had a multiple SEZ, which was focusing on avionics and aviation workings, aircraft preservation and consumer electronics. When the allowance of SEZ position was helped the promoter saves on taxes and the accepted plan was to go ahead with few inspections by the Home Ministry which had required a quick gaze at the venture near planned locations comprising ports and airports. GMR ventures officer told that, GMR’s development proposal was for the new airport in Hyderabad below the firm which was proposed to locate 2 hotels in airport locality. In the initial stage it had planned to have a middle market hotel next to the airport.
Source: NIMMA BENGALURU
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