With the new limits on the area proposed for construction of Special Economic Zones (SEZs), real estate giant DLF is thinking about dividing its upcoming mega zone in Haryana into two tax free enclaves in the region.
The company has already begun to look out for the land acquisition. It will come up with an SEZ spread over 5,000 hectare but envisages to set up another SEZ of 3,000 hectare in Gurgaon if gets more land.
Earlier, DLF had proposed to build a multi product SEZ in Gurgaon covering over 8,000 hectares, but all in vain. The arbitrary cap of 5,000 hectares on multi product SEZs does not allow the company to pursue its plans now.
The new rules have been created by the Empowered Group of Ministers (EGoM). The authority did not specify whether promoters would be allowed to construct two SEZs in an adjacent area.
Omaxe, another leading name in Indian real estate, had earlier planned to build an SEZ over 6,000 hectare, would also slate new strategies now. But, the company will move ahead with its proposed project even though the size has been curtailed.
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