New Delhi:The minimum land area requirement for Special Economic Zones (SEZ) and eventually for commercial development as well is to be lowered by the Ministry of Commerce and this is supposed to give new boast to the industry.Anand Sharma, Union Minister for Commerce, Industry and Textiles announced the new SEZ policy to revive the investor interest in SEZ. The reduction has also been made necessary as it is becoming increasingly difficult to acquire large tracts of lands that are uncultivable, vacant and also contiguous. The minimum land area requirement for a multi-product SEZ used to be 1,000 hectares. Now it is being mowed down to 500 hectares. Sector-specific SEZs now have a minimum land area requirement of 50 hectares instead of 100 hectares. IT or ITeS SEZs will be from now on exempt from any norms regarding minimum land requirement as IT or ITeS SEZs make the most significant contribution to the export promotion.The minimum built-up area has still to be abided by the developers of SEZ. However the requirement for the minimum built-up has been considerably relaxed. The minimum built-up area has to be one lakh square meters in 7 major cities of Kolkata, Delhi, Chennai, Mumbai, Pune, Bangalore and Hyderabad.Currently there are 389 notified SEZs all around the country and of them 170 are functional. These SEZs employ more than 1 million people. Investments in these SEZs amount to over Rs 2.36 lakh crore. займ на карту без отказов круглосуточновзять кредит онлайн