Most SEZs in Indore incomplete

Q: Hello. I recently came across some news that said that most of the SEZ projects that have started in Indore have not taken of yet? What is the update on these projects?

Wasim Iqbal, Indore

3rd March 2015

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Replies (8)

I dont think there will be any new SEZs or any new developments in Indore any time soon. The recent developments in the service tax in the city will also have an indirect effect on the real estate market in the city.

Utsav Chauhan, Indore

11th March 2015

Comment

Zoom Developers, which had planned to invest Rs 1,000 crore over a three-year period to construct a 100 hectare IT SEZ in Indore, dropped its plan after the economic slowdown in 2009.

Harsh Somani, Indore

10th March 2015

Comment

Parsvnath Developers Ltd had proposed to set up an IT SEZ at its integrated township in Indore. The company was to invest Rs 243 crore on the project. However, the project was shelved after the downtrend in the property market.

Arjun Singh Ranawat, Indore

9th March 2015

Comment

SEZs started losing sheen after the global economic meltdown and the imposition of minimum alternate tax (MAT) in Indore. So that is why many of the new investors are also not taking up indore as an option too.

Tanmay Kumar, Indore

8th March 2015

Comment

Omaxe Housing and Developers Ltd had proposed to set up a multi-product SEZ in Indore when it had announced the launch of its Indore township project in 2005. However, while the company has developed residential townships, it has shelved the SEZ project

Anurag Dixit, Indore

6th March 2015

Comment

SEZ projects were announced when the economy and the property market were booming. However, once the downward cycle started, the scenario changed and the developers started facing a cash crunch. The SEZ projects were no longer commercially viable

Swati Goyal, Indore

5th March 2015

Comment

This is true. Many SEZs have not come up yet. Even as the property market is showing signs of revival, many of the companies companies are in no mood to develop the SEZ. The economic slowdown coupled with the shortage of funds had prompted developers to shelve the SEZ projects.

Vidushi Chandratre, Indore

4th March 2015

Comment

Yes, in the past 10 years down the line, most SEZ projects have failed to take off even though the residential townships have been completed. In fact, most of the SEZ projects have been shelved, including those announced by national level and reputed companies.

Rahul Shandilya, Indore

3rd March 2015

Comment