Posts Tagged ‘City Gold Group in Ahmedabad’
IT/ITeS SEZs arena hots up in Gujarat
4 new SEZs approved, three notified in last three months
Gujarat is moving ahead on the IT/ITeS special economic zones (SEZs) front. In last three months the state has seen three IT special zones being notified and four new proposals getting Centre’s nod. In addition, the state government is also considering at least two more applications for such economic zones. With the latest developments, the number of IT SEZs which have received formal approval or notification has touched 15 (see table).
The latest ones to get notified include Mindspace IT SEZ of Aqualine Properties Pvt Ltd (Raheja Group), DLF SEZ by DLF Commercial Developers and Shivganga SEZ by Ahmedabad-based City Gold Group.
Interestingly, all of these recently notified zones are in Gandhinagar. Moreover, these IT/ITeS SEZs are the ones for which MoUs were singed during the IT summit 2007. City Gold Group got an IT/ITeS SEZ notified in Ahmedabad in January this year. The company has joined hands with Pune-based Vascon Engineers for developing the SEZ. Managing director of City Gold, Sanjay Agrawal said that they are yet to select partner for the new project whose development cost is estimated at Rs450-500 crore. On the other hand, DLF has already started construction on the SEZ site. Chief executive, infrastructure, DLF Commercial Developers, YK Tyagi said, “First block will be completed by the end of this year. Then every six months a new block will be added.”
District-wise Ahmedabad has six IT/ITeS special regions, two notified, while rest have been formally approved. Gandhinagar houses six such SEZs but four of them have already been notified and are in the various stages of development. Vadodara though has got three formally approved; two of them got the permission in June and July this year.
According to director STPI, Gandhinagar, and development commissioner for the Gujarat IT SEZs, Ajay Kumar, after two years lot of space will become available to IT companies in the state. However, a lot would depend on Centre’s decision on tax exemptions provided under the STPI scheme, Sharma said. According to industry experts, around 50 square feet is required per employee. So, there are rare chances of surplus space, given the fact several major companies are driving into the state apart moderate growth of local companies.