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Special Economic Zones (SEZs) Special Economic Zone (SEZ) is the best solution to attract foreign investment by liberalisation of economic laws in a particular region of Country. Let’s Discuss the SEZs in India and their effect on Real Estate.

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Old 25-04-07   #1
Armaan
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Lightbulb Nagpur SEZ - Only SEZ in Maharashtra to complete land acquisition

The state-owned Maharashtra Airport Development Company (MADC), which acquired land without sparking a controversy, has already started construction at the site near Nagpur. This could be the only special economic zone in Maharashtra to have completed land acquisition.

The MADC is building a Multi-modal international cargo hub and airport at Nagpur (MIHAN). The project is spread across 4,025 hectares, of which 1,475 ha will be used for the SEZ. “We have so far acquired 1,652 ha, more than what is required for the SEZ,” MADC official said here on Tuesday. RC Sinha, a retired bureaucrat credited with the timely completion of the Mumbai-Pune expressway and 55 flyovers in Mumbai, heads the MADC.

According to an official from the state’s revenue ministry, a key department for land acquisition, the Nagpur SEZ has steered clear of all controversy because it’s coming up over barren and largely unused land. “Unlike other SEZs, the question of land acquisition doesn’t arise here as the government agencies clear-cut procedures for it,” he said.
This, incidentally, is one of the few SEZs to get the Union commerce ministry’s final approval. The MADC has roped in Scott Wilson Kirkpatrick India to prepare a business plan for the project.

The Nagpur SEZ has attracted four major investments from the IT sector. Satyam Computers is setting up an IT park over 30 ha, while L&T Infocity and Shapoorji Pallonji have been handed over land for two separate IT parks. On Tuesday, the MADC signed an MoU with HCL for a Rs 1,000 crore IT campus.

Ambuja Realty Development, RMZ Corp, Karamchand Realtech and DLF are some of the other companies to have been allotted land in MIHAN. The SEZ will have a modern township spread over 10 ha. Reatox Builders & Developers has won the contract for it. The construction has already begun, according to the MADC.

The SEZ will have exclusive water and power supply arrangements, for which studies are being carried out by Kirloskar Consultants and Ernst & Young respectively. The SEZ will have its own railway terminus and direct connectivity to national highway.

Work has already started on the road construction, while Crisil has submitted the feasibility report for the railway terminus based on a public-private-partnership. Credit Analysis & Research (CARE) has granted the BBB(L) credit rating for the MIHAN project.
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Old 15-01-10   #2
livelife123
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Default Mihan work under construction

Mihan-SEZ is under construction right now. Just to update those who hail from Nagpur or central india -

- Flyover joining wardha road to Mihan SEZ is almost complete now
- Outer Ring road (1/4 from Amaravati Road to Wardha Road) is complete (excluding major bridge work)
- Outer ring road from wardha road joining to North near Kamthi work has started (this is actually part of North-South Corridor)
- Administrative building is complete and operational

this site lists latest information about Mihan project with few photographs -
http://www.skyscrapercity.com/showthread.php?t=572016
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