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Pune SEZ's Properties Hinjewadi Chakan
Talegaon.
Commercial SEZ's Properties: IT Office space.
Pune SEZ's IT /
ITES Park
Special
Economic Zones Big Perks
Available
SEZ's Office Property in Pune Lease / Outright
SPECIAL Economic Zones (SEZs), offer India an excellent
opportunity for giving a big push to its growth performance. The
focus of economic policy debate in India has decisively shifted
to a regime that exhibits strong export orientation. Looking
back, high and sustained economic growth of any nation is
preceded by these kinds of shifts. It is expected that SEZs
would become the country's landmark of infrastructure excellence
which would supplement the supply of real estate, improve
investments and generate the much required employment.
It has been two years since the Special Economic Zone (SEZ) Act
and Rules came into effect. While exports have grown almost 100
per cent to touch Rs 40,000 crore in the first nine months
(April-Nov 08), total incremental employment generated by the
operational SEZs after February 2006 is 146,128, according to
the Export Promotion Council for EOUs and SEZ (EPCES). Total
incremental investment during the same period is over Rs 70,416
crore. Currently 42 SEZs are operational in the country, while
197 zones have been notified and are in process of development.
IT & ITES 'SEZ'
By 2010, over 60-70 million sq ft of IT/ITES specific office
space is expected to come up through SEZs alone in India. About
57% percent of the notified SEZs belong to the IT/ITES category.
IT/ ITES SEZs have been extremely attractive for Foreign Direct
Investment (FDI), having received an estimated FDI of Rs. 34.29
crore/ hectare as compared to Rs. 0.89 crore/ hectare for non
IT/ ITES SEZs..Of the IT/ITES space expected to come up in 7
major cities, Pune would lead with nearly 24 million sq. ft. of
the total supply estimated to come up by 2011 - 12. Of the
direct employment potential of SEZs estimated at 2.1 million by
2009-10, over 60% is to be generated by IT/ITES sector alone.
Over 1.3 million additional jobs proposed to be created by
IT/ITES SEZs are nearly at par with the current level of
employment in the sector.
Benefits to the units operational within SEZs:
CENTRAL GOVERNMENT INCENTIVES
1. Duty-free import/domestic procurement of goods for
development, operation and maintenance of SEZ units.
2. 100% Income Tax exemption for SEZ units under Section 10AA of
the Income Tax Act for first 5 years, 50% for next 5 years
thereafter and 50% of the ploughed back export profit for next 5
years.
3. Exemption from minimum alternate tax under section 115JB of
the Income Tax Act.
4. External commercial borrowing by SEZ units upto US $ 500
million in a year without any maturity restriction through
recognized banking channels.
5. Exemption from Central Sales Tax.
6. Exemption from Service Tax.
7. Single window clearance for Central and State level
approvals.
8. Exemption from State sales tax and other levies as extended
by the respective State Governments. (Section 7.26 and second
schedule)
STATE GOVERNMENT INCENTIVES
1. Exemption from the State and local taxes, levies and duties,
including stamp duty.
2. Exemption from electricity duty or taxes on sale of self
generated or purchased electric power for use in the processing
area of a Special Economic Zone.
3. Allow generation, transmission and distribution of power
within a special Economic Zone subject to the provisions of the
Electricity Act, 2003 (No. 36 of2003).
4. Providing water, electricity and such other services, as may
be required by the developer.
5. Delegation of power to the Development Commissioner under the
Industrial Disputes Act 1947 (No. 14 of 1947) and other related
Acts in relation to the Unit.
6. Delegation of power to the Development Commissioner under the
Industrial Disputes Act 1947 (No.14 if 1947) in relation to the
workmen employed by the developer.
Declaration of the Special Economic Zone as a Public Utility
Service under the Industrial Disputes Act 1947 (No. 14 of
1947).1. Providing single point clearance system to the
Developer and unit under the State Acts and rules.
2. The State Government shall, while recommending a proposal for
setting up of Special Economic Zone to the Board indicate,
whether the proposed area falls under reserved or ecologically
fragile area as maybe specified by the concerned authority.
Pune is
one of the most posh and well developed cities of Maharashtra. The city has all
the modern lifestyle amenities and excellent connectivity to major towns
and cities. With pleasant weather conditions throughout the year and the
rapidly growing infrastructure, the city has been seen as a lucrative
investment hub. Pune has established itself as one of the major
industrial hubs and people in large influx of numbers are seen shifting
their base to Pune. Apart from the shopping mall development in
Maharashtra, real estate scenario in Pune has witnessed unprecedented
growth in other sectors too like construction of highway, flyovers etc.
The city is also in close proximity to Mumbai, the capital of
Maharashtra and the financial capital of India. Pune is a hub of many IT
firms, BPO’s and other multinational companies. Moreover, the city also
has a lot of prominent educational institutes. The real estate prices in
Pune provide a sigh of relief from Mumbai where prices of the property
are tagged at an exorbitant amount and not within the reach of a common
man. Therefore, people plan and invest to buy property in Pune. Pune has
also become a preferred choice among the NRI’s for investment in
property.
With growing industrial and commercial property in Pune and with
vast spread of IT sector, there has been a considerable demand of
residential property too. Due to all the above factors, the property
market in Pune also has seen an upward trend. Therefore, it is wise to
invest in property right now. So, we at Pune Property Times assist our
esteemed customers to buy and sell property in Pune. Our sole intention
remains that the clients are benefitted from the dealings done with us.
We provide the best customized real estate solutions to the clients.
Avail our services and we hope to make this task easier and convenient
for you. |
