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Home > Forum > Indore > Real estate News > Updates on SEZs in Indore

Updates on SEZs in Indore

Q: Hello. I heard recently of the news that SEZs that were supposed to come up a few years ago still hasn't come up in Indore. Any idea about it?

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Replies (6)
1
Omaxe Housing and Developers pvt ltd , a delhi based company had planned a residential project and an SEZ in Indore area in 2005. But due to the volatile markets, they only completed the residential project and shelved the SEZ.
Nikhil Gupta


2
Similar incident happened in 2009 in Indore. A Mumbai based firm called Zoom Developers were planning a whopping 1000 crore rupees investment around here. It was supposed to happen over a three-year period over an area of 100 hectare. But it was cancelled in 2009.
Harsh Somani


3
Oh. I heard that another Delhi based company did that too. Parsvnath Developers Ltd also had similar plans. They had planned out on investing Rs. 243 crores on an IT SEZ. But when they noticed the negative change, they too backed off.
Vidushi Chandratre


4
The saddening part is that most of the supposed investors were the ones who were of repute on a national level. But now despite the real estate market slowly picking up developers are still on the back foot as they are finding that SEZs are no longer profitable for them.
Utsav Chauhan


5
It is being said after the economical meltdown that occurred a few years ago, several of these investors lost a lot of money and while some of them halted their plans due to lack of capital others dropped the project altogether.
Nitish Bajpai


6
Hi. Yes. This is a disappointment. Many real estate honchos had come up with several plans and formulated strategies to come up with SEZs that had housing projects and work spaces some time a decade ago. This was when the real estate scene improved in Indore. But nothing hhas hapened so far.
Tanmay Kumar


What was the reason behind this?
Abhijeet Chaubey,  Indore
10th February 2015


7

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