DLF Wants Special Economic Zone in Kolkata

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May 28 – India’s largest real estate developer, Delhi Land and Finance (DLF), has reportedly reentered discussions with India’s commerce ministry regarding the possibility of restarting its plan for a special economic zone in Kolkata.

DLF scrapped four SEZ projects last June, including the one in Kolkata, when it was determined that there wasn’t sufficient demand for commercial space in the proposed areas. It seems like recent improvements in some sectors of the Indian economy have caused the company to reconsider its plans. The proposed 10.48 hectare tax-free area in Kolkata will target the IT and IT enabled-services sector.

“The board of approval will take up the DLF request for re-notification of the SEZ in its next meeting on June 8,” a commerce ministry official told the Press Trust of India on Wednesday. “The developer wants to get the project re-notified; stating that demand for IT/ITES leasing space is showing signs of improving.”

DLF’s other three previous projects in Gujarat, Haryana and Orissa, remain shelved at the moment.