With in a short span of SEZ’s rise and falls have made many leading realty companies to change their future plans to cope with the harsh economic scenario. Source at www.propertykhazana.com states that govt. has recently announced its permission to the realty houses to raise overseas debts for the purpose of infrastructure with in the area of the SEZ’s architectures. It is a very relief scene for realty majors like DLF, Parsvnath, Reliance Industries, Suzlon as their respective SEZs are below the active operation line and has asked the govt. earlier for de-notification for its other zones.
But at the same time, it is also mended that no developer can raise ECB for integrated township or any kind of commercial realty with in that particular area of SEZ as depicted on www.propertykhazana.com. The sectors that are permitted to raise overseas funds mainly includes power, telecommunication, railways, roads, ports, industrial parks, urban infrastructure, water supply, sanitation and sewage development and mining.
In addition, leading realty houses like DLF and Unitech are also allowed to raise a portion of foreign debts for its traditional infrastructure comprising with both residential and commercial units with in the area of 100 acres. Source at www.propertykhazana.com also reveals that the norms of ECB are regularly put on examination for better scrutiny of the economy by both govt. and the Reserve Bank of India. In case of any violation to the ECB norms any organization will not be allowed further to involve in any kind of fund raise from their overseas connections. For more and latest realty updates visit www.propertykhazana.com.
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