The government gave the nod for the country’s largest real estate developer, DLF to revive its plan for a special economic zone in Kolkata.

Mr D K Mittal said that commerce ministry additional secretary said that “The Board of Approval has allowed re-notification of DLF’s SEZ in Kolkata.”

The Board of Approval, the nodal body for SEZ-related matters. The Kolkata SEZ was one of DLF’s four SEZ projects notified in June 2008. However, the tax-free enclave in Kolkata, which was to be developed in a small area of 10.48 hectares, was de notified along with the other three SEZs in February 2009, on account of demand shrinkage for commercial space.

With the improved sentiment in the real estate sector, DLF had approached the Commerce Ministry for reviving this IT/ITeS tax free zone.

(Sourced from ET)