What is the requirement for SEZ?
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What is the requirement for SEZ?
Multi-product SEZ’s minimum land requirement has been cut to 500 hectares from 1,000 hectares. Single product SEZ’s minimum land requirement has been cut to 50 hectares from 100 hectares. Multi-services SEZs will be treated on a par with single-product SEZs, with the minimum area being slashed to half from 100 hectare.
What is the minimum land required?
BENGALURU: The Karnataka government is set to fix the minimum land requirement for the development of private residential layouts. Now on, a minimum of half-acre land is required for layout development. They include disallowing layout development in less than-half-acre land.
Who can setup SEZ in India?
According to SEZ Act 2005, a Special Economic Zone can be established either jointly or severally by the Central Government, State Government, or any other person involve in the manufacturing of goods. Even a foreign company can also set up SEZ in India.
Under Which type of sectors SEZs are allowed?
Thus, in 2000, the new Export and Import Policy allowed for SEZs to be set up in the public, private or joint sector or by state governments. Eight EPZs were converted into SEZs.
What is the minimum land required to start a SEZ?
A Developer /An Entrepreneur who is willing to start SEZ needs to locate the area with the minimum land requirement as per SEZ -2006 Rule 5 (2) i.e. Minimum (10 Hectares)for IT/ITES SEZ, Minimum (40 hectares) for Free Trade & Warehousing Zone and for Multi Services (100 hectares ) & for Multi product (1000 hectares)
How many units can I build under the SEZ Act?
There is no restriction on the number of units in the SEZ Act. The space availability depends on the floor space index (FSI) available on that area and Developers capacity to construct. All approvals to be given by the Unit Approval Committee headed by the Development Commissioner.
What are the laws applicable to SEZs?
Agriculture/Horticulture processing SEZ units allowed to provide inputs and equipments to contract farmers in DTA to promote production of goods as per the requirement of importing countries. Normal Labour Laws are applicable to SEZs, which are enforced by the respective state Governments.
How is an area notified as a SEZ?
Once the BOA gives formal approval and the concerned Development Commissioner gives an inspection report certifying the contiguity and vacancy of the area, the area is notified as SEZ.