Special Economic Zone

 

     It is popularly known as ‘SEZ’.  The Special Economic Zone Act, 2005 seeks to provide for establishment, development and management of Special Economic Zones for the promotion of exports and related matters.  The benefits of the SEZ can be seen from the Act itself.

     In brief, we provide information about areas required for various SEZs :

 

 

(a)  Multi product SEZ - 1000 Hectares (2500 Acres)
(b)  Service Section SES (SSS) - 100 Hectares (250 Acres)
(c)  SEZ in Port or Airport - 100 Hectares (250 Acres)
(d) For IT, Bio-TECH – SEZ - 10 Hectares (25 Acres)
(e) SEZ for free trade and warehousing Zone - 40 Hectares (100 Acres)

 

     There is a Board of Approval (BOA) for notifying areas of the SEZs. The Developer is required to apply to BOA through the State Government in prescribed format with all information supported by deeds and documents.

     Initially Letter of Approval (LOA) is granted by Board of Approval for 3 years.  The Developer includes an Authority and Co-Developer.  The area of SEZ is notified by Central Government in the Official Gazette.

     We undertake initial work of due diligence of the lands selected by Developer for SEZ and prepare transfer deeds of lands, with prior required permissions in favour of the Developer and/or Co-Developer.  Normally location of SEZ is rural due of the size of land to be acquired  and one has to tackle with various problems while dealing with villagers.  During search and investigation of title, getting documents and information about the family members is important for preparing transfer deeds. At co-operation and held from that time local leaders, Revenue Officers is extremely useful.  The acquisition or purchase of SEZ land is done in the same manner like for special Township Projects, only use is different.